Iowa Public Television


SD Lawmakers Call for Hearings on Rabobank Offer

posted on August 20, 2004

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.



Tags: agriculture banks credit finance news South Dakota