Tag Archives: Farm Credit System

Three FCS Associations Moving Ahead with Merger

As the June Farm Credit Watch first reported, three large, midwest FCS associations are moving forward with their planned merger; regulatory approval by the Farm Credit Administration is almost certain. They are AgStar, serving eastern and southern Minnesota and northwest Wisconsin; Badgerland Financial, which serves southern Wisconsin; and 1st Farm Credit Services, which serves northern and western Illinois. The merged ...

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Kansas City Fed Article Shows How Tax Policy Favors FCS

By Bert Ely A recent article in the Economic Review published by the Federal Reserve Bank of Kansas City inadvertently showed how the FCS’s very favorable tax treatment has distorted agricultural lending competition between banks and the FCS.  The article, titled “Competition in Local Agricultural Lending Market: The Effect of the Farm Credit System,” included three very interesting charts.  The ...

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FCS Pushes Back Against Leonard Wolfe’s House Ag Testimony

By Bert Ely As FCW reported last month, Kansas banker Leonard Wolfe testified on ABA’s behalf at the May 19 oversight hearing the Senate Agriculture Committee held on the FCS and its regulator, the Farm Credit Administration. After he testified, Leonard wrote an opinion article for Agri-Pulse, titled: “It’s time to reform the Farm Credit System,” summarizing his testimony. Todd ...

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Nichols Calls for Annual Oversight Hearings for FCS

ABA President and CEO Rob Nichols today wrote to Senate Agriculture Committee leadership urging lawmakers to hold annual oversight hearings of the Farm Credit Administration -- the primary federal regulator of the government-sponsored Farm Credit System.

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Banker Op-Ed Calls for Farm Credit System Reform

In an op-ed in Agri-Pulse today, Leonard Wolfe -- president and CEO of United Bank and Trust in Marysville, Kan., and chairman of ABA’s Agricultural Credit Task Force -- called on Congress and regulators to step up efforts to oversee the Farm Credit System to ensure that the government sponsored enterprise stays within the scope of its intended mission.

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ABA Calls for Congressional ‘Autopsy’ of FCS

In testimony before the Senate Agriculture Committee on behalf of ABA today, Leonard Wolfe, president and CEO of United Bank and Trust in Marysville, Kan., raised concerns about the size, complexity and tax advantage of the Farm Credit System and called for closer congressional oversight of the government sponsored enterprise -- a key component of ABA’s Agenda for America’s Hometown Banks.

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