Rural banks scored a victory Tuesday in their fight to stave off an effort by the Farm Credit Administration to expand the role of government-backed agricultural lenders.

A last-minute letter from eight members of the Senate Agriculture Committee persuaded the agency to delay action on a controversial rule that would loosen restrictions on who is eligible to borrow from the system, and for what reasons.

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.