An important public hearing was held in November 2002 by the Farm Credit Administration, the FCS' regulator, on FCS lending to young, beginning, and small farmers and ranchers. Dale Pohlmann, CEO at The Ravenna Bank (Nebraska) testified on behalf of the ABA. The fact that the Farm Federal Council attacked the FCA so vigorously at the hearing is a clear indication that FCS associations know they have a serious problem regarding their YBS lending and that they fear more intense FCA oversight of that lending. Other FCA and FCS news of interest to the banking industry is presented.