Agricultural lenders in the Farm Credit System must have a plan of action on how they will service and enhance their relationships with young, beginning and small (YBS) farmers as part of a rule approved this fall by the Farm Credit Administration board.
The Farm Credit Administration Board has granted approval for a final regulation that governs the provision of services to young, beginning, and small (YBS) farmers and ranchers within the Farm Credit System.
A quarterly report submitted to the Farm Credit Administration shows growth in the Farm Credit System was slower at the beginning of this year compared to the last three, something economists attributed to rising interest rates and seasonal lending fluctuations.
Community bankers are rallying around a proposal that would provide banks with tax exemptions on interest earned from agricultural real estate or home loans in communities whose populations are below 2,500.
President Biden is expected to sign his executive order today addressing concentration in agribusiness, transportation and other sectors. Agriculture Secretary Tom Vilsack will be in Council Bluffs, Iowa, to promote the White House initiative.
Lawmakers can now turn their eyes toward next Wednesday when Joe Biden will be inaugurated as president after Donald Trump was impeached by the House for a second time. The Senate won’t take up the impeachment before Trump leaves office.
Curt Hudnutt has been tapped as the new president and chief executive officer of American AgCredit, Roland Fumasi will lead Rabobank’s RaboResearch Food & Agribusiness team in North America and Julie Busse has been promoted to communications director at the National Corn Growers Association.
The expanding shutdowns - and slowdowns - of U.S. meatpacking plants is raising concerns in the nation’s capital and putting a new focus on the need for curbing the COVID-19 outbreaks that are forcing plants to suspend or at least reduce operations.