WASHINGTON -- A proposal to expand the Farm Credit System's lending authority is drawing fire from agricultural bankers who fear the changes will undercut them in one of their traditional markets.

The Rural Credit and Development Act of 1994 would broaden the definition of the word "rural." Currently, the Farm Credit System can lend only in communities with populations of 2,500 or less. The legislation expands the agency's lending authority to communities with populations of up to 20,000 people.

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.