Banker Association Warns Of Farm Credit System December 11th, 2006
The Farm Credit Systems needs to be corralled, warns the American Bankers Association in a report presented at an industry conference.
“The Farm Credit System: Lending Everywhere But on the Farm” was released recently at the ABA’s 2006 National Agricultural Bankers Conference in Las Vegas.
”The banking industry has become increasingly concerned since the release of the Horizons project by the Farm Credit Council in January 2006. According to the report, many of the proposals being advanced could harm the very people Congress intended to help when FCS was created 90 years ago – young, beginning and small farmers,” warns the report.Bert Ely, author of the report, recommends five steps for Congress to bring the Farm Credit System back in line:
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