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Farm Credit Act of 1971
With its government capital paid off, a National Services Commission on Agricultural Credit was formed in 1969 to consider where the Farm Credit System should head in the future. Its recommendations formed the basis for the Farm Credit Act of 1971, the most sweeping update of the System's charter since 1933. The 1971 act, along with amendments added in 1980, significantly expanded the range of services Farm Credit institutions could offer. These services included rural home mortgages, leasing services, and international and rural utility lending. It also expanded certain authorities of local associations and led to a major reorganization of the Farm Credit Administration.