Farm Credit Administration (FCA)

By: Deborah and Rachel

FCA's Mission

To ensure a safe, sound, and dependable, source of credit and related services for agriculture and rural America.
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FCA

Headquarters is located in McLean, Virginia, United States

Field Offices are in: Bloomington, Minnesota; Dallas, Texas; Denver Colorado; Sacramento, California.

What does the FCA do?

The (FCA) is an independent Federal agency that regulates and examines the banks, associations, and related entities of the Farm Credit System (FCS), which includes the Federal Agriculture Mortgage Cooperation.
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History of FCA

The department was created in 1933. This was an executive order of President Franklin D. Roosevelt.

This was a part of the FDR's New Deal. The FCA helped farmers refinance mortgages over a longer period of time. This helped farmers in the 1930's to get out of the Great Depression.

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Head of Department- Jill Long Thompson

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- As Chair of FCA, she is responsible for policymaking, adopting regulations, and overseeing the examination and regulation of the institutions that compose the Farm Credit System, including the Federal Agricultural Mortgage Corporation.

- She was appointed by President Barack Obama. She has served on Agriculture Committee in the House of Representatives and she also served as the Under Secretary for Rural Development. She has been a part of the FCA since her appointment in 2010.

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Budget

The FCA spends about $65.5 million.

That money goes to wages and benefits to employees, transportation of people and things, services like consulting, supplies, materials, and equipment.

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Current Issues

One issue the FCA is concerned with is flood insurance. They were looking to review the payments of insurance and adding exceptions to mandatory flood insurance requirements on certain structures.

Another issue the FCA is concerned with is capital requirements. The main focus on this issues is ensuring institutions hold enough capital to fulfill their mission.

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