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The FCA derives its authorities from the Farm Credit Act of 1971. Instead, it is funded by assessment fees paid by FCS institutions. Similar to the Federal Deposit Insurance Corporation, another independent agency of the federal government, the FCA does not receive public funds. Note: As of September 2019, Hall was continuing to serve an expired term until the naming of his successor. The table below lists the members of the board as of September 2019. The board is tasked with reviewing and approving the policies, regulations, charters, and enforcement activities of the FCA, and the examinations of FCS members. Board members serve six-year terms, and may not be reappointed to succeed themselves after a full term, or after serving three years of a previous member's term. The president appoints one of these three member to serve as the chair. Members of the board are appointed by the president with the advice and consent of the United States Senate. The FCA is governed by a three-member board. Read more about the administrative state on Ballotpedia.
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