Notice of Petition - "Compensation, Retirement Programs and Related Benefits" Kirk Sandquist 430 Main St Deer Lodge, MT 59722-1059
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:
The FCS is a government sponsored enterprise or GSE and they need to have a high standard of accountability and transparency in their dealings. The FCS is also structured as a cooperative and their members need to be allowed to have a vote on the large pay packages of FCS CEOs, executives, and senior officers.
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. Thank you for considering my comments.