South Dakota Sens. Tom Daschle and Tim Johnson have asked for hearings into the proposed sale of Farm Credit Services of America to Dutch-based Rabobank.
Under the proposed buyout, Rabobank plans to pay $1.4 billion for the Omaha-based co-operative bank, which serves farmers and ranchers in four states. The sale would include $600 million in payments to borrowers in Iowa, Nebraska, Wyoming and South Dakota.
Johnson and Daschle -- both Democrats -- want public hearings before the Senate Banking and Agriculture Committees in September.