Community Bankers Association of Illinois

FEDERAL ACTION UPDATE: FCS SEEKS FARM BILL AMENDMENT!

Call Senator Durbin & Obama TODAY!

We need your help! The Farm Bill is expected to be considered as early as next week (November 5-9)! Sen. Chambliss is expected to offer an amendment on behalf of the Farm Credit System (FCS). FCS is desperately and furiously lobbying this "TROJAN HORSE" amendment. While aimed at biorefineries (ag and non-ag) and tax-exempt home lending in cities up to 7,500, FCS has already told staffers privately that there effort is just to gain a foothold in conference. In a House-Senate Farm Bill conference, FCS will push for broad powers to engage in (non-farm) business lending and a further expansion of their population caps for home mortgages (they originally sought a 50,000 population cap).

Some senate staff has indicated that they are NOT hearing from community bankers!

Because this issue has moved beyond the Agriculture Committee and will soon be on the Senate floor, ALL 100 SENATORS NEED TO BE CONTACTED. Many of these senators and staffs will be unfamiliar with the issue as they simply haven't followed it. That is precisely what the FCS is counting on as they try to wrap themselves in the politically attractive issue of "biofuels" while giving lip service to subprime mortgages.

FCS must be prevented from expanding their lending powers! Please contact Senator Durbin's office by calling 202/224-2152 and Senator Obama's office by calling 202/224-2854. Click here for talking points.

Please contact CBAI's Department of Governmental Relations by calling 217/529-2265 with any questions or to obtain further information regarding this issue.

  800.736.2224 (IL) | 217.529.2265  
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