President Joe Biden has appointed former Iowa Governor Chet Culver to the board of directors of the Federal Agricultural Mortgage Corporation, also known as Farmer Mac.
Culver is a Democrat who served as governor of Iowa from 2007 to 2011. Biden touted Culver’s record as governor, announcing his appointment: “Under his leadership, Iowa successfully managed a $ 6 billion annual budget, earned a triple A bond rating, and solidified its position. one of the largest budget surplus in the country ”.
Prior to his term as Governor, Culver served as Secretary of State for Iowa for eight years. After leaving the governor’s office, Culver founded the Chet Culver group, a renewable energy consulting firm.
Farmer Mac is a federal organization formed in 1987 to expand rural people’s access to capital. The President is responsible for nominating five board members… Shareholders elect others 10. Culver previously served on the board of directors under former President Barack Obama.
The Senate must confirm Culver’s candidacy.
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