President Clinton Names Michael V. Dunn to Serve as Member of the Farm Credit Administration Board
                              THE WHITE HOUSE

                       Office of the Press Secretary

For Immediate Release                                 December 21, 2000

                        CREDIT ADMINISTRATION BOARD

     President Clinton today announced the recess appointment of Michael V.
Dunn to serve as Member of the Farm Credit Administration Board.  Mr. Dunn
was nominated to the Senate on April 6, 2000.  This position is vital for
the fair regulation and examination of the banks, associations and related
entities that collectively comprise the Farm Credit System.

     Mr. Michael V. Dunn of Harpers Ferry, West Virginia, is currently the
Under Secretary for Marketing and Regulatory Programs at the United States
Department of Agriculture (USDA). He has also served as the Acting Under
Secretary for Rural Economic and Community Development and Administrator of
the Farmers Home Administration (FmHA) at USDA.  Mr. Dunn has had a long
involvement in agricultural credit dating back to the late 1970?s when he
was the Midwest Area Director for the FmHA.  He has been a loan officer and
vice-president of the Farm Credit Banks of Omaha and has served as a member
of the Professional Staff of the Senate Agriculture Committee, specializing
in agricultural credit.  Besides being USDA?s chief regulator, Mr. Dunn
currently serves as a member of the Commodity Credit Corporation and Rural
Telephone Bank Board.  He is a past member of the Iowa Development
Commission and has served as the Chairman of the State of Iowa?s City
Development Board.

     Mr. Dunn received his B.A. and M.A. from the University of New Mexico.

     The Farm Credit Administration (FCA) is a bipartisan, independent
regulatory agency.  Members of the FCA Board are responsible for regulation
and examination of the banks, associations and related entities that
collectively comprise what is known as the Farm Credit System, including
the Federal Agricultural Mortgage Corporation (Farmer Mac).  Members of the
FCA Board are also responsible for protecting the interests of the public
and those who borrow from farm credit institutions or invest in farm credit
securities.  Initially created by Executive Order of the President in 1933,
the agency now derives its powers and authorities from the Farm Credit Act
of 1971, as amended.


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