The American Bankers Association this week announced the formation of a special task force designed to identify legislative opportunities in agricultural credit.
The Agricultural Credit Task Force meets today in Lincoln, Neb., at the Nebraska Bankers Association Headquarters.
The task force is comprised of CEOs and senior executives from community, regional and large banks. The group will focus on addressing credit policies that could hinder the banking industry's ability to serve farmers and ranchers, ABA said.
The group believes that the Farm Credit System possesses unfair advantages as the only government-sponsored enterprise with direct retail lending authority and will consider it as the first topic of discussion.
Matt Williams, president, chairman and CEO of Gothenburg State Bank in Gothenburg, Neb., is the task force chairman.
"Banks have provided credit to farmers and ranchers since the founding of our country, and we want to continue our mission as the most reliable, most innovative lenders to agriculture," Williams said. "We want policies and regulations in place that will prevent banks from being disadvantaged in the agricultural credit marketplace."
There are seven banks and three associations participating in the group: Bruning State Bank, Bruning, Neb.; Midwest Bank, Detroit Lakes, Minn.; First Community Bank, Fancy Farm, Ky.; Bank of the West, Fresno, Calif.; Great Western Bank, Mount Ayr, Iowa; United Bank and Trust, Marysville, Kan.; Nebraska Bankers Association, Lincoln, Neb.; South Dakota Bankers Association, Pierre, S.D.; and Minnesota Bankers Association, Eden Prairie, Minn.