CoBank's attempted power grab flops

American Bankers Association

American Bankers Association, 1999, vol. 13, issue 01

Abstract: ABA troops have beaten back an attempt by CoBank, the FCS' sole lender to cooperatives, to grab additional powers, at a potential risk to taxpayers and bankers. CoBank's power grab was launched with a proposed amendment to legislation appropriating money for the USDA. The amendment would have allowed CoBank to contract with the USDA to operate the USDA's Alternative Agricultural Research and Commercialization Corp. More importantly, the amendment would have given CoBank the exclusive right to acquire and expand upon AARCC's lending and investing powers.

Keywords: Agricultural; Finance (search for similar items in EconPapers)
Date: 1999
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