FCS lending violations subject of private FCA Meeting: (January 2003)

American Bankers Association

American Bankers Association, 2003, vol. 16, issue 3

Abstract: The staff of the Farm Credit Administration met privately with representatives of the Farm Credit Council to review Farm Credit System lending violations uncovered by FCA examiners in early December 2002. Farm Credit Watch filed a Freedom of Information request with the FCA to obtain a copy of the presentation FCA staff had prepared for the meeting. This event is significant for 2 reasons: 1. FCS lending violations should be shared with the public. 2. FCA revealed absolutely shocking data about widespread FCS lending abuses and outright lending violations. According to the FCA presentation, 14 associations were cited for 60 lending violations on loans totalling $150 million.

Keywords: Agricultural; Finance (search for similar items in EconPapers)
Date: 2003
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