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Press Room |
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Sponsored 109th |
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About Stephanie |
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FOR IMMEDIATE RELEASE “I’ve met with producers from across South Dakota, and I’ve heard a number of serious concerns about the proposed deal between Farm Credit Services and Rabobank. In September, I questioned FCSA officials about the proposed transaction with Rabobank in the Agriculture Subcommittee on Conservation, Credit, Rural Development and Research. A number of producers, including Myron Edelman, a cattleman from Watertown, also raised questions about whether shareholders were getting adequate information about the proposed transaction at that hearing. Today's announcement that FCSA's Board of Directors has terminated the acquisition agreement will relieve some of the concerns of producers with FCSA loans. However, I do believe that we need to continue to look at the overall structure of the Farm Credit Act. As a Member of the House Agriculture Committee, and its Subcommittee on Conservation, Credit, Rural Development and Research, I will continue to examine issues pertaining to farm credit with respect to producers in South Dakota.
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