LIMITATION ON FCA AUTHORITY TO REQUIRE DISCLOSURE OF INFORMATION.

SEC. 424. LIMITATION ON FCA AUTHORITY TO REQUIRE DISCLOSURE OF INFORMATION. (a) In General.— Section 5.17(a)(9) (12 U.S.C. 2252(a)(9)) is amended by inserting before the period the following: “, except that the Farm Credit Administration may not require any System institution to disclose in any report to stockholders information concerning the condition or classification of a loan— “(A) to a director of the institution— “(i) who has resigned before the time for filing the applicable report with the Farm Credit Administration; or “(ii) whose term of office will expire no later than the date of the meeting of stockholders to which the report relates; or “(B) to a member of the immediate family of a director of the institution unless— “(i) the family member resides in the same household as the director; or “(ii) the director has a material financial or legal interest in the loan or business operation of the family member.”. (b) Regulations.— Within 30 days after the date of the enactment of this Act, the Farm Credit Administration shall amend its regulations as necessary to implement the amendment made by subsection (a).