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Abstract
The Federal Agriculture Improvement and Reform Act of 1996 (FAIR Act) will have significant ramifications for many farmers in the FDIC's Kansas City Region and bankers who lend to them. The FAIR Act took a major step toward greater market orientation in agricultural policy by removing most restrictions on farmers' planning decisions for major crops and eliminating the system of deficiency payments that protected farmers from low crop prices. In the 7 states of the Kansas City Region, 1,381 of the 2,447 financial institutions are farm banks.