Commercial bankers are continuing their long fight against the Farm Credit System (FCS), alleging the government-sponsored entity undercuts loan rates to attract the most profitable customers and also is seeking to expand its lending authority.
The Independent Community Bankers of America in a July 2 statement urged Congress to oppose FCS efforts to expand its portfolio and make non-farm loans. Meanwhile, the FCS has said it hasn’t made recent proposals to Congress to increase its lending authority, interest rates are required to be competitive and commercial bankers also have access to GSE funding.
“Credit unions and FCS lenders are using ...
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