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ABA'S John Blachfield Assesses Farm Credit System

Posted on 3/31/2014

John Blanchfield of ABA commented on the evolution of the Farm Credit System in the latest Ag Banking publication. Blanchfield explains that at the system's inception in 1916, Bankers were weary of Congress giving such a special status and exemptions to a single entity and ensures that the same concerns, among others, continue to exist today.

Blanchfield wrote, "Nearly a century after it was founded, the Farm Credit System continues to seek growth opportunities in areas that are further and further away from the farm while it seeks to preserve its special relationship with the federal government. Woodrow Wilson and the progressives who envisioned the Farm Credit System a century ago must be spinning in their graves."

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