Contending that the Farm Credit System should be allowed to make only agriculture loans, bank trade groups presented their opening arguments Friday in their appeal of a federal court decision handed down last November.

Representatives from the Independent Bankers Association of America and the American Bankers Association told the U.S. Court of Appeals for the District of Columbia that a federal judge erred when he gave the government-sponsored enterprise permission to extend credit to businesses that serve farmers, such as equipment and seed dealers.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.