ABA works on behalf of its agricultural and rural member banks to support economic development and growth for rural America's communities. ABA's positions include: opposing unfair competition by — and expansion of — the Farm Credit System (a government-sponsored enterprise); advocating for tax proposals that would encourage lending in rural areas by FDIC-insured banks; and promoting farm and rural development legislation that will increase the ability of banks to serve agricultural customers and their communities.
The Farm Credit System specifically is focused on an expansion-oriented agenda — the Horizons Project — that seeks to change the GSE's mission from helping meet the credit needs of bona fide farmers ranchers to lending to anyone, anywhere. This tax-advantaged, retail lending GSE competes directly with ABA member banks. ABA will be carefully monitoring and commenting on Farm Credit System developments.
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Questions? Please contact John Blanchfield for more information.