Expresses the sense of the House of Representatives that any Federal legislation enacted to increase financial assistance to the Farm Credit System (FCS) should: (1) enable FCS banks and associations to offer loans at lower interest rates than would be possible without the assistance; (2) ensure the continued participation of borrowers in the management and control of the FCS; (3) require FCS entities to reduce loan repayment obligations as necessary if the reduction is less costly than foreclosure or legal actions with respect to debtors unable to make payments; and (4) encourage FCS banks and associations to take part in State mediation programs conducted by independent arbitrators and to offer delinquent borrowers opportunities to restructure their loans.
Became Public Law No: 100-233.
Introduced in House
Introduced in House
Referred to House Committee on Agriculture.
Referred to Subcommittee on Conservation Credit and Rural Development.
See H.R.3030.
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