Obama nominates South Dakotan for Farm Credit Administration post | TSLN.com

Obama nominates South Dakotan for Farm Credit Administration post

President Barack Obama today announced his intention to nominate Dallas Tonsager as a member of the Farm Credit Administration board.

The position requires Senate confirmation.

The nomination would bring Tonsager back to a position he held before serving as co-chair of the private sector farm effort to elect Obama in 2008. Obama named Tonsager as Agriculture undersecretary for rural development from 2009 to 2013, and during that period also served as a member of the Commodity Credit Corporation board of directors from 2010 to 2013.

As a member of the FCA Board, Tonsager also served as an ex-officio member of the board of directors of the Farm Credit System Insurance Corporation.

From 2002 to 2004, he was the executive director of the South Dakota Value-Added Agriculture Development Center. In 2001, he started two firms, Golden Plains Ventures and Tonsager Consulting.

He was the South Dakota state director for rural development from 1996 to 2001 and the South Dakota state director for the Farmers Home Administration from 1993 to 1996.

Earlier in his career, Tonsager served as president of the South Dakota Farmers Union and worked on his family farm.

Tonsager earned a bachelor of science degree from South Dakota State University.

The FCA is an independent federal agency that regulates and examines the banks, associations, and related entities of the Farm Credit System, including the Federal Agricultural Mortgage Corporation (Farmer Mac). It is governed by a full-time, three-person board, whose members are appointed by the president with the advice and consent of the Senate.

The members of the board serve six-year terms and may not be reappointed after serving full terms or more than three years of previous members’ terms. The president designates one member as chairman of the board, who serves until the end of his or her own term. The chairman also serves as FCA’s CEO.

The current chair is Jill Long Thompson, who was appointed to the board by Obama in March 2010 and was designated chair and CEO on in November 2012.

The second member of the board is Kenneth Spearman, who was appointed by Obama in October 2009 to the balance of Tonsager’s term and was reappointed to a full six-year term that expires on May 21, 2016.

Spearman also serves as chairman of the board of the Farm Credit System Insurance Corporation.

Tonsager will succeed Leland Strom, who was appointed to the board by President George W. Bush in December 2006. Strom served as chairman and CEO from May 22, 2008, until Long Thompson was designated as his successor in 2012. His statutory term expired on Oct. 13, 2012, but he will continue to serve until a successor is confirmed by the Senate.

–The Hagstrom Report

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