Browsing: Farm Credit System

Newsbytes

Sens. Jerry Moran (R-Kan.), John Boozman (R-Ark.), Mike Rounds (R-S.D.), Kevin Cramer (R-N.D.) and Roger Marshall (R-Kan.) today introduced S. 2202, the American Bankers Association-backed Enhancing Credit Opportunities in Rural America Act of 2021, which would end the taxation of interest earned from agricultural real estate loans.

ABA Banking Journal

Farmers, ranchers and producers across the country have stood strong during a year of extreme economic disruption and tumult. America needs them to sustain agriculture, and they need all of the support they can get. At this time, in particular, withholding any would be irresponsible. Reps. Ron Kind (D-Wis.) and Randy Feenstra (R-Iowa) introduced the Enhancing Credit Opportunities in Rural America (ECORA) Act of 2021 in the House of Representatives, bringing it a step closer to law.

ABA Banking Journal

Though the goals for passing of the reintroduced Enhancing Credit Opportunities in Rural America Act of 2021, commonly known as ECORA, haven’t changed much over the last few years, this Congress may have a better shot at leveling the playing field between farm banks and Farm Credit System lenders, ultimately giving struggling farmers and ranchers greater access to affordable credit options. ABA SVP Ed Elfmann details the importance of ECORA’s passage.

Ag Banking

For ag lenders, credit quality and the deterioration of agricultural loans, competition from other lenders and weak loan demand remain the top three concerns. For producers, lenders continued to be most concerned about the liquidity, income and leverage of their ag borrowers.

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