- This central filing legislation was introduced by the Iowa Bankers Assn and Wells Fargo
- Bank lobbyists are saying they cannot send paper notices to all possible buyers because farmers can load a semi and deliver anywhere and they don't know where to send paper notices
- We have proposed amending Iowa law to allow for electronic communication (e-mail) via direct notice AND set in place a specified location/e-mail address for each entity receiving notices
- We know lenders can deliver notices to any office/location of the buying entity
- This bill includes ALL farm products (livestock, would require local sale barns, meat processors, grain buyers, grocers, etc. to check an Iowa based central filing system for each farmer payment
Thank you to members who have continued working on this bill.
Your communications are clearly effective. We continue to hear this is a bank vs. co-op issue, when we know that this negatively impacts farmers and buyers of farm products, not just cooperatives.
Watch comments from the Senate State Govt Committee, including Senator Jason Schultz (R- Schleswig) talking about co-ops.