ICBA called on the Treasury and Agriculture Departments to provide farmers a large aid package and ensure that community banks are treated favorably when they help facilitate farm aid.
Details: In a letter to Treasury Secretary Scott Bessent and USDA Secretary Brooke Rollins, ICBA said:
Community bankers provide nearly 80% of all agricultural loans from the commercial banking sector.
It may be necessary to approve additional financial support as large or larger than the economic loss payments provided to the farm sector last year.
The departments should ensure community banks are treated as favorably as any other creditors involved in facilitating financial assistance for U.S. producers.
Recent Testimony: ICBA this summer testified before Congress on the importance of community banks to the nation’s agriculture credit markets and how policymakers can enhance the new farm bill.
ICBA View: Advancing policies that will help community banks create rural prosperity, food independence, and a stronger nation are key priorities of ICBA’s “Repair, Reform, and Thrive” plan and open letter to the 119th Congress.
