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Wall Street banking institutions bailing on difficult U.S. Farm sector

CHICAGO/WASHINGTON (Reuters) – when you look at the wake for the U.S. Housing meltdown associated with belated 2000s, JPMorgan Chase & Co hunted for brand new methods to expand its loan business beyond the troubled mortgage sector.

The nation’s biggest bank found enticing brand brand brand new opportunities into the rural Midwest – financing to U.S. Farmers that has a good amount of earnings and security as costs for grain and farmland surged.

JPMorgan expanded its farm-loan profile by 76 %, to $1.1 billion, between 2008 and 2015, relating to figures that are year-end as other Wall Street players piled in to the sector. Continue reading