Notice of Petition - "Compensation, Retirement Programs and Related Benefits" Jeffrey L Gerhart PO Box 479 Newman Grove, NE 68758-0479
April 19, 2013
Barry F Mardock Deputy Director Office of Regulatory Policy, Farm Credit Administration 1501 Farm Credit Drive McLean, VA 22102-5090
Dear Mr. Mardock:
I'm writing this letter in opposition to the Farm Credit System (FCS) petition against giving a voice to their member owners (say on pay) and in support of the Farm Credit Administration's (FCA) final rule adopted last October.
If the FCA backs down on this final regulation due to pressure from the FCS, then the FCA's credibility as a regulator will be severely undermined and its supposed interest in transparency will be shown to be nothing more than empty rhetoric. Rejecting the FCS petition is also necessary to ensure better safety and soundness practices are in place for the FCS. Therefore, I request that the FCA keep the final rule in place and strengthen it as suggested above.