Farm Credit System change in rules provoking debate.

From: Omaha World-Herald (Omaha, NE) | Date: March 21, 2006 | Copyright information

Byline: Steve Jordon

Mar. 21--Proposed changes to an obscure set of federal rules could end up costing taxpayers a fortune, according to bankers who oppose the changes.

The proposal would change the rules for a cooperative to leave the Farm Credit System, a national network of government-sponsored lenders that provides billions of dollars in loans to farmers and rural communities each year.

The proposal was sparked by a failed attempt in 2004 by a Dutch bank to buy out an Omaha-based farm lending cooperative, Farm Credit Services of America.

That case turned up ...

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