Iowa officials are worried about new federal regulations which Attorney General Tom Miller says could endanger farmers’ finances. Miller’s concerned about a new U-S-D-A rule that he says limits states from enforcing regulations over grain merchandisers and grain warehouses. He says there’s no adequate federal regulations to take the place of state oversight. Miller says it’s basically a bid by the feds to end regulation of grain warehouses and elevators.Current Iowa law establishes an insurance system of sorts — similar to federal deposit insurance at your bank — that provides a payment of up to 150-thouand dollars if a farmer loses any stored grain when an elevator goes belly up.
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