Farm Bill Advocacy

During both Wisconsin Bankers Association (WBA) Washington, D.C. trips this past spring, the Farm Bill was discussed as part of our policy agenda with our congressional delegation, including, notably Rep. Van Orden’s office since he is on the House Agriculture Committee. At the time, we shared that we were in support of the Farm Bill passing as most of the provisions are favorable; however, we did share concerns regarding potential language that would broaden Farm Credit’s authority. The legislation was not introduced until May 21 and at that time, WBA repeated its ongoing concerns with Farm Credit related provisions in the bill to Rep. Van Orden’s office ahead of its vote in the House Agriculture Committee. Very late Friday night, the bill (H.R. 8467) passed out of committee on a 33-21 bipartisan vote so it will now move to the House floor for consideration. It is anticipated that the House may not take up the floor vote until this Fall.

The Farm Bill as passed out of Committee contains largely positive provisions that WBA and the industry would support for the ag and banking sectors. However, it also includes provisions that WBA and the industry objected to around a broadening of Farm Credit’s powers and its compliance with current CFPB Section 1071 requirements. For example, the Farm Bill would move enforcement of Section 1071 from CFPB to the Farm Credit Administration and appears to only require collection of 3 data points – race, sex or ethnicity, provisions not extended to the rest of the banking industry. WBA will continue its advocacy against these provisions, including during our in-district meetings in August with the delegation, and encourages bankers to do the same with your respective member of the House. Again, it is anticipated that the House may not take up the bill for a floor vote until the Fall, and then it will move to the Senate where at least some of these expanded Farm Credit-related provisions are not expected to be supported. WBA will continue to keep the membership updated as actions occur on this important must-pass legislation.