Farm Credit System
2016-05-20T02:42:15-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvNTc4XC8yMDE2MDUxOTEwMjkxNTAxMV9oZC5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Members of the Farm Credit Administration Board, bank officials, and farmers testified at a hearing on the Farm Credit System and rural borrowers' access to credit. For the previous three years, the agricultural economy had weakened due to improving crop yields and lower demand because of global conditions. FCA Chair Kenneth Spearman told committee members that the Farm Credit System is strong and prepared to weather the economic slowdown in agriculture. Panelists criticized the credit system for a lack of oversight comparing, the government-sponsored agency to Fannie Mae and Freddie Mac. They acknowledged a growth in the agency but farmer Jed Welder said the Farm Credit System was the only way he could receive a loan to start his farming business.
Members of the Farm Credit Administration Board, bank officials, and farmers testified at a hearing on the Farm Credit System and rural borr… read more
Members of the Farm Credit Administration Board, bank officials, and farmers testified at a hearing on the Farm Credit System and rural borrowers' access to credit. For the previous three years, the agricultural economy had weakened due to improving crop yields and lower demand because of global conditions. FCA Chair Kenneth Spearman told committee members that the Farm Credit System is strong and prepared to weather the economic slowdown in agriculture. Panelists criticized the credit system for a lack of oversight comparing, the government-sponsored agency to Fannie Mae and Freddie Mac. They acknowledged a growth in the agency but farmer Jed Welder said the Farm Credit System was the only way he could receive a loan to start his farming business. close
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