ICBA to Congress: Level Farm Credit Playing Field

Nov 20, 2019

ICBA told Congress that the expansion of the Farm Credit System into non-farm lending disadvantages taxpaying community banks and jeopardizes the economic strength of rural communities.

In a statement for a House Agriculture subcommittee hearing, ICBA advocated the Enhancing Credit Opportunities in Rural America Act, which would provide tax relief for agricultural and rural residential lending to offset FCS lenders' taxpayer-funded competitive advantage.

Citing recent comment letters, ICBA also reiterated its opposition to proposals that would allow FCS lenders to effectively duplicate Farmer Mac’s role in the secondary market and expand the system's powers through the congressional appropriations process.

Urge Support for ECORA