ABA wrote to members of Congress and the heads of the Farm Service Agency and the U.S. Small Business Administration yesterday urging them to end a moratorium on loans to farmers and ranchers for financing animal facilities. The agencies put the moratorium in place in response to pending litigation over lapses in environmental due diligence on those types of loans — specifically, the Environmental Protection Agency’s interpretation of the Waters of the United States Rule. ABA warned that if this interpretation is not re-examined, it could lead to a permanent ban on animal facilities lending, cutting off vital funding sources for farmers and ranchers.
FDIC extends comment period for Genius Act implementation
The FDIC announced that it will push back to May the deadline for comment on its proposal to create a process through which banks can seek agency approval to issue stablecoins through a subsidiary.
