Bill

HR 5150

Protecting Agricultural Borrower Information Act

119th Congress Introduced by Jim Costa and 8 co-sponsors

HR 5150 safeguards agricultural borrowers' financial data by limiting information sharing, enforcing confidentiality, and imposing penalties for non-compliance.

Sponsor introductory remarks on measure. (CR H3883)

WeVote Research Nonpartisan

Bill Summary · HR 5150

Summary of HR 5150: Protecting Agricultural Borrower Information Act

Purpose and Intent

The Protecting Agricultural Borrower Information Act (HR 5150) aims to enhance the privacy and security of financial information related to agricultural borrowers. The bill seeks to establish safeguards that prevent unauthorized access and disclosure of sensitive borrower data, thereby protecting the interests of farmers and agricultural businesses.

Key Provisions

Data Protection Measures: The bill proposes specific regulations that would limit the sharing of agricultural borrower information without explicit consent from the borrower.
Confidentiality Requirements: Financial institutions that handle agricultural loans would be required to implement stringent confidentiality protocols to safeguard borrower information.
Penalties for Non-Compliance: The legislation outlines penalties for institutions that fail to comply with the established data protection standards, ensuring accountability in the handling of borrower information.

Affected Parties

Agricultural Borrowers: Farmers and agricultural businesses who rely on loans for operations will benefit from enhanced privacy protections regarding their financial information.
Financial Institutions: Banks and lending organizations that provide agricultural loans will need to adjust their practices to comply with the new regulations set forth by the bill.
Regulatory Bodies: Agencies overseeing agricultural finance will be tasked with enforcing the new provisions and ensuring compliance among financial institutions.

Legislative Timeline

Introduced: The bill was introduced in the House on September 4, 2025.
Committee Referral: Following its introduction, HR 5150 was referred to the House Committee on Agriculture on the same day.
Sponsor Remarks: Initial remarks by the bill's sponsors were recorded on September 8, 2025 (CR H3883).

Conclusion

HR 5150 represents a significant step towards protecting the financial privacy of agricultural borrowers. By instituting robust data protection measures, the bill aims to foster a safer borrowing environment for farmers and agricultural businesses, while holding financial institutions accountable for the handling of sensitive information. As the bill progresses through the legislative process, its implications for both borrowers and lenders will be closely monitored.

Compiled from official sources — confirm details with the bill’s official record.