Browsing: Rural banking

Ag Banking

ABA supports bipartisan New Markets Tax Credit Extension Act. “By making NMTC permanent, our nation’s small businesses, investors and community development professionals will have access to the vital resources needed to improve our nation’s communities while generating long-term economic growth,” ABA said.

Community Banking

The American Bankers Association today submitted a letter of support for H.R. 2561, the Promoting Access to Capital in Underbanked Communities Act of 2021, which would establish a three-year phase-in period for new banks to comply with federal capital standards, among other provisions designed to promote de novo banking.

Community Banking

To help expand access to banking services and promote financial inclusion, Rep. Andy Barr (R-Ky.) last week introduced H.R. 2561, the Promoting Access to Capital in Underbanked Communities Act of 2021, which would establish a three-year phase-in period for new banks to comply with federal capital standards, among other provisions designed to promote de novo formation.

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.

ABA Banking Journal

In the latest Farm Credit Watch, Bert Ely highlights the notable lack of transparency around Farm Credit Administration board meetings. While government agencies are required to be open and accessible to the public except under certain circumstances, Ely raised concerns that FCA has been requiring attendees to its public virtual meetings to pre-register, which he said “represents a deliberate attempt by the regulatory body to discourage the monitoring of its actions.”

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