Farm Credit board nominee lacks ag support
Story Date: 3/4/2019

 

Source: POLITICO'S MORNING AGRICULTURE, 3/1/19

Rodney Brown, the White House's pick to serve on the three-member Farm Credit Administration board, is facing opposition from more than two dozen farm groups — a rare move for an industry that's largely backed Trump's appointments to ag posts.

Checking his résumé: In a letter this week to Senate Ag leaders, the groups raised alarm that Brown is a former president and CEO of the California Bankers Association. The trade association, along with its national arm in Washington, American Bankers Association, represent commercial financial institutions.

The associations have long lobbied to rein in the Farm Credit System, which is regulated by the FCA. They argue the Farm Credit System's status as a government-sponsored enterprise gives its banks an unfair tax advantage over other lenders competing for the same business, and the system finances projects outside of its authority.

The signatories: The American Farm Bureau Federation, National Farmers Union, National Council of Farmer Cooperatives and 24 other groups signed the letter.

They contend that although they don't oppose a nominee with a background in commercial banking, Brown's history with trade associations that "publicly advocate against the interests of Farm Credit System's congressionally sanctioned mission is disqualifying."

























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