(Source: American Bankers Association ) - “ABA applauds HUD’s decision to withdraw the proposal that would have allowed the federal Farm Credit System to double down on its federal guarantees by allowing it to participate in the FHA home mortgage programs. HUD’s plan was a government proposal in search of a problem.
“We have repeatedly pointed out that the federal Farm Credit System – a government-sponsored enterprise (GSE) – enjoys many federal funding advantages and tax exemptions that are not available to ABA member banks. Further, the federal Farm Credit System represents a significant potential liability to the American taxpayer.”
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $13 trillion banking industry and its two million employees. The majority of ABA’s members are banks with less than $165 million in assets. Learn more at aba.com.
