Sec. 4.1

4.2

4.4

4.5

4.6

4.7

4.8

4.9

PART 4-INFORMATION AND RECORDS

Information regarding the Farm Credit Administration and agencies under its supervision.

Reports of farm credit examiners.
Lists of borrowers.

Information and records regarding bor-
rowers and applicants for loans.
Waiver of restrictions of § 4.5.
Officer or employee summoned as wit-

ness.

Information regarding personnel.
Reserved authority.

4.10 Official records generally.

AUTHORITY: §§ 4.1 to 4.10 issued under sec. 17, 39 Stat. 375, as amended, sec. 2, 42 Stat. 1459, sec. 4, 46 Stat. 13, as amended, sec. 6, 47 Stat. 14, as amended; 12 U. S. C. 665, 831, 1101, 1141b.

§ 4.1

Information regarding the Farm Credit Administration and agencies under its supervision.

(a) FCA and bank personnel. No officer or employee of the Farm Credit Administration, of a general agent's office or of a Federal land bank, Federal intermediate credit bank, or bank for cooperatives shall disclose information of a type not ordinarily contained in published reports or press releases regarding the Farm Credit Administration or any bank or association of the Farm Credit System or any borrowers or members thereof, except (1) to the extent necessarily involved in the performance of his official duties or (2) as authorized by §§ 4.4 to 4.8. Information prepared by Farm Credit Administration personnel for newspaper, publishing and broadcasting companies, and all new or revised publications prepared by Farm Credit Administration personnel should be cleared with the Research and Information Division.

(b) Association personnel. No officer or employee of a Federal land bank association or production credit association shall disclose information of a type not ordinarily contained in published reports or press releases, regarding such association, or any of its members, except (1) to the extent necessarily involved in the performance of his official duties or (2) as authorized by §§ 4.4 to 4.8.

[22 F.R. 10479, Dec. 24, 1957, as amended at 27 F.R. 10929, Nov. 9, 1962]

§ 4.2 Reports of farm credit examiners.

The contents of reports by farm credit examiners may not be disclosed without the consent of the Chief Examiner of the Farm Credit Administration, except to authorized representatives of the Farm Credit Administration or the bank or association concerned; or agents of the Federal Bureau of Investigation, Department of Justice; Office of the Chief Postal Inspector, Post Office Department; the Secret Service and Internal Revenue Service of the Department of the Treasury; and the General Accounting Office, who request access to such reports for confidential use in connection with the official investigation of matters touched upon therein.

[27 F.R. 10929, Nov. 9, 1962]

§ 4.4 Lists of borrowers.

Lists of borrowers shall not be released by any office or organization of the Farm Credit System, unless such release is approved by the Governor, a deputy governor, or a service director having general supervision over such office or organization concerned. This section is subject to the following exception: Production credit associations and Federal intermediate credit banks may issue lists of borrowers and loans for the information of buyers, warehousemen, and others dealing in produce or livestock of the type securing such loans. [22 F.R. 10481, Dec. 24, 1957]

§ 4.5 Information and records regarding borrowers and applicants for loans.

Officers and employees of the Farm Credit Administration and every bank and association of the Farm Credit System, its officers, directors, and employees shall hold in strict confidence all information regarding the character, credit standing, and property of borrowers and applicants for loans, and shall not exhibit or quote the following listed documents: loan applications; supplementary statements by applicants; letters and statements relative to the character, property, and credit standing of borrowers and applicants; recommendations of loan committees; and reports of inspectors, fieldmen, investigators, and appraisers. This section is subject to the exceptions set forth below in paragraphs (a) to (i) of this section.

(a) Examiners and other accredited representatives of the Farm Credit Administration and the bank concerned shall have free access to all information, records, and files.

(b) Accredited representatives of the following offices of the United States Government, at their request, may be given information pertinent to official investigations of individual cases by such offices, and may be permitted to examine such portions of the records and files as contain the pertinent information: Secret Service and Internal Revenue Service, Department of the Treasury; Federal Bureau of Investigation, Department of Justice; Office of the Chief Postal Inspector, Post Office Department; and General Accounting Office. Before information is given to any such representative, he shall be required to present his official identification card, and to make a written request identifying the individual case on which information is sought and the particular information desired, and to certify that such information is pertinent to the official investigation of that case and is requested for confidential use of the investigating office.

(c) The general agents and the presidents of the banks of the Farm Credit System may supply statistical and other impersonal information pertaining to groups of borrowers, applicants, and loans, in response to requests from any department or independent office of the Government of the United States, with the understanding that the information is requested for official use, and that it will not be published. Such information may be given in response to requests from non-Government sources, but only with the approval of the Governor, a deputy governor, or the appropriate service director.

(d) Full information concerning individual borrowers may be given for the confidential use of any bank or association of the Farm Credit System, or any Government agency, in response to inquiries made in contemplation of the extension of credit or the collection of loans. To the extent that such information relates to the character and personal traits of a borrower, it shall be ascribed to reports from unnamed sources believed to be reliable, and shall be accompanied by the statement that no responsibility is assumed for the accuracy of such reports.

(e) Information may be given in confidence to reliable private institutions (lending and mercantile) concerning the amount, terms, and payment records of loans to individual borrowers, in response to inquiries made in contemplation of the extension of credit.

(f) Credit information concerning any borrower (including a cooperative association) may be given when such borrower consents thereto in writing: Provided, however, That opinions as to the ability of such borrower to meet his obligations and commitments may be given to creditors and prospective creditors of such borrower without his consent upon the following conditions: (1) That the opinion is to be held in strict confidence by the creditor or prospective creditor; (2) that the opinion is for the private use of the creditor or prospective creditor; and (3) that the opinion be accompanied by a statement that no responsibility for its accuracy is assumed.

(g) The loan application and any supplementary statements signed by a borrower may be examined and their contents may be proved in court by the borrower who signed them, or by his accredited representative, or by the successor in interest of a deceased borrower.

(h) An unsuccessful loan applicant, or a person authorized to inquire in his behalf, may be informed of impersonal credit factors which caused the rejection of his application, but if a loan is denied because of the applicant's personal shortcomings, no explanation may be made which would tend to defame his character or betray the confidence of an informant.

(i) In litigation between a borrower (or his successor in interest) and the United States or a bank or association of the Farm Credit System, any competent evidence may be introduced on behalf of either party with respect to any relevant statements made orally or in writing by or to the borrower or his successor. [22 F.R. 10481, Dec. 24, 1957, as amended at 27 F.R. 10929, Nov. 9, 1962]

waiver of § 4.5 may be submitted by any bank, association, or office concerned. Any such recommendation from a Federal land bank association or a production credit association shall be submitted through the appropriate Federal land bank or Federal intermediate credit bank, with the request that it be considered and forwarded to the Farm Credit Administration, if deemed advisable. Each such recommendation should be supported by a statement of facts and approved by counsel for the forwarding bank. The recommendation should be addressed to the General Counsel, Farm Credit Administration.

[22 F.R. 10481, Dec. 24, 1957, as amended at 27 F.R. 10929, Nov. 1962]

§ 4.7 Officer or employee summoned as witness.

If an officer or employee of the Farm Credit Administration or of any association or bank of the Farm Credit System is summoned as a witness in litigation to which neither the Government nor any farm credit agency is a party for the purpose of testifying and/or producing documentary evidence with respect to matters which he is forbidden by this part to disclose, he shall arrange, if possible, with counsel who obtained the summons, to be excused from testifying. If such an arrangement cannot be made, the officer or employee shall appear in response to the summons but, before testifying or producing documentary evidence as to information which this part requires shall be held in confidence, he shall respectfully advise the Court of this part against disclosure of such information and respectfully request of the Court that the confidential nature thereof be recognized and safeguarded. After so doing, the officer or employee may then testify or produce documentary evidence as to such information only to the extent and under the conditions directed by the Court. Upon receiving any such summons, the officer or employee may request advice and assistance from counsel for the agency with which he is connected and, for this purpose, the officers and employees of Federal land bank associations and production credit associations shall consult counsel for the appropriate Federal land bank or Federal intermediate credit bank.

[22 F.R. 10481, Dec. 24, 1957, as amended at 27 F.R. 10929, Nov. 9, 1962]

§ 4.8 Information regarding personnel.

Lists of employees shall not be released by an office or organization of the Farm Credit System without the approval of the Governor, a deputy governor, or a service director having general supervision over such office or bank concerned. This section is subject to the exceptions set forth below in paragraphs (a) to (e) of this section.

(a) Taxing authorities shall be supplied, on request, with the names, addresses, and compensation of officers and employees of the Farm Credit Administration and of the officers, agents, and employees of any bank or association. Requests for such information relating to the registrars, chief reviewing appraisers, examiners, or other employees of the Farm Credit Administration shall be forwarded to the Accounting and Budget Division of the Farm Credit Administration.

(b) A Federal land bank may release lists of the Federal land bank associations of its district, and their managers; and for use in connection with the designation of nominees for the Federal Farm Credit Board or the nomination and election of members of a district farm credit board by Federal land bank associations, a Federal land bank may release lists of the presidents and directors of Federal land bank associations of its district.

(c) A Federal intermediate credit bank may release lists of the production credit associations of its district, and their secretary-treasurers; and for use in connection with the designation of nominees for the Federal Farm Credit Board or the nomination and election of members of a district farm credit board by production credit associations, a Federal intermediate credit bank may release lists of the presidents and directors of production credit associations of its district.

(d) A bank for cooperatives may release lists of cooperative associations which hold stock in the bank or which have subscribed to its guaranty fund, and lists of the presidents of such cooperative associations, for use in connection with the designation of nominees for the Federal Farm Credit Board or the nomination and election of members of a district farm credit board.

(e) The Farm Credit Administration and banks and associations may release employees' names, addresses, positions, and spouses' names to reputable concerns

The provisions of §§ 4.1 to 4.8 shall not operate to limit or restrict the discretionary authority of the Governor of the Farm Credit Administration or any deputy governor to release, or to authorize the release of, information by or pertaining to the Farm Credit Administration or any bank or association of the Farm Credit System. [22 F.R. 10482, Dec. 24, 1957] § 4.10

Official records generally.

The Farm Credit Administration and the several banks or associations under its supervision keep confidential the classes of records enumerated in §§ 4.2, 4.4, 4.5, and 4.8. Information contained in other official records in the custody of the Farm Credit Administration or of a particular bank or association may be made available to persons directly and properly concerned upon written application to the Farm Credit Administration or the particular bank or association. Such application must identify the specific information sought and must show how the applicant is concerned therewith. Such applications with respect to official records in the custody of the Farm Credit Administration may be granted by the Governor or any deputy governor or by the director or other division head in charge of the functions to which the records relate. Such applications with respect to official records in the custody of a particular bank or association may be granted by the chief executive officer of the bank or association in accordance with the provisions of this part.

[22 F.R. 10482, Dec. 24, 1957, as amended at 27 F.R. 10929, Nov. 9, 1962]

Except as specifically authorized by law or rules and regulations promulgated thereunder, no officer, employee, or agent of the Farm Credit Administration or any corporation (including associations) under its supervision:

(a) Shall, in any manner directly or indirectly, participate in the deliberation upon, or the determination of, any question affecting his personal interests, those of any person related to him by blood or marriage, or those of any partnership, association, or any corporation in which he is directly or indirectly interested;

(b) Shall, except in the performance of his official duties, divulge to another person, or utilize for his personal benefit or that of another, any fact or information acquired by such officer, employee, or agent, directly or indirectly, by virtue of his employment;

(c) Shall speculate, directly or indirectly, in any agricultural commodity or product thereof, or in contracts relating thereto, or in the stock or membership interests of any association or corporation engaged in handling, processing, or disposing of any such commodity, or product:

(d) Shall accept or receive any salary, fee, commission, honorarium, or substantial gift, or other benefit for any purpose or in any way, directly or indirectly, from any borrower from or debtor to the Farm Credit Administration or any such corporation, or from any loan applicant or representative thereof; Provided, however, That such officer, employee, or agent may, with the written approval of the Governor and upon such conditions as the Governor may prescribe, accept compensation from such borrower, debtor, applicant, or representative for bona fide services rendered while on leave of absence without pay; And, provided further, That a person employed and compensated by a national farm loan association solely for the purpose of taking applications for loans may also receive compensation from applicants and borrowers for services as attorney, abstractor or insurance agent if