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Publication Exposes Farm Credit System Mission Drift

Posted on 11/7/2013

ABA, in coordination with its Agricultural Credit Task Force, yesterday announced a new publication describing the mission drift and tax subsidies of the Farm Credit System. The publication, which will be distributed at ABA's National Agricultural Bankers Conference, Nov. 10-13 in Minneapolis, will inform bankers' grassroots lobbying and public education efforts on the FCS.

Bankers can use the publication to help make the case that today's FCS is much larger than the taxpaying banks it competes with, that it has lost its mission focus, and that as a government-sponsored enterprise it is costly and risky to taxpayers.

The publication was produced with funds from the Financial Education and Advocacy Initiative, Inc. FEAI is the 501(c)(4) that ABA's board organized last year to help strengthen the banking industry's voice in Washington. Contributions to the nonprofit are used, among other things, to educate decision-makers and the public on key issues affecting banking.

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