The American Banker’s Association, the Independent Community Bankers of America and the National Rural Lenders Association are asking the Biden Administration to reconsider its plan to pay off the debt of socially disadvantaged farmers. This proposal calls for USDA to pay 120 percent of direct and guaranteed loans for minority farmers. The lenders contend the early debt payoff will negatively impact their liquidity.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.