Federal Overreach Threatens North Dakota & South Dakota Farmers, Community Banks & Their Customers

January 20, 2015

Taxpayers are on the Hook for a Two Hundred Sixty Billion Dollar Government Lending Institution That Has Strayed From its Intended Purpose

Frank Keating, President and CEO, American Bankers Association, Former Governor of Oklahoma

(Washington, D.C., Monday, April, 13, 2015) – The latest round of federal government overreach threatens North Dakota’s farmers, along with community banks and their customers, all while leaving taxpayers on the hook for a two hundred sixty billion dollar government lending institution that has strayed from its intended purpose.

  • Reforming the Farm Credit System: This $266 billion government enterprise was founded to help America’s small farmers. Now it funds golf courses and Verizon’s corporate acquisitions.
  • Community Bank Regulation: “One size fits all” federal banking regulations, like the recent Dodd-Frank legislation, harm community banks, making it harder for them to properly serve their customers. 
  • Agenda for America’s Hometown Banks: The ABA’s comprehensive game-plan for a secure, fair, and efficient banking system that empowers consumers and encourages innovation. 

Background:

Frank Keating has served as President and CEO of the American Bankers Association, the voice of the nation’s small, regional, and large banks, since 2011. Prior to his time at ABA, he worked in the presidential administrations of Ronald Reagan and George H.W. Bush, and spent two terms as the 25th governor of Oklahoma (1995-2003). 

 

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