The American Bankers Association today welcomed a proposal by the U.S. Department of Agriculture to restructure its operations to improve efficiency, effectiveness and accountability, in response to an executive order by President Trump. The association expressed optimism that the proposed changes would help strengthen the delivery of USDA’s loan programs, including Farm Service Agency and Rural Development loans, which provide more than $7 billion in credit to the nation’s farmers and ranchers.
With respect to FSA loans, ABA urged the department to increase the loan limit size for FSA guaranteed loans, take steps to modernize the program and add additional staff, and bring back FSA’s interest assistance program. ABA also called for the expansion of USDA’s Rural Development programs, and for a review of certain environmental regulations that hold back agricultural lending.
