|USDA Implementation of Section 1005 of the American Rescue Plan||Committee on Agriculture||06/14/21|
|ICBA Letter in Support of House ECORA||U.S. House of Representatives||03/25/21|
|Letter to Senate Ag Committee on B&I Programs||Senate Agriculture Committee||02/26/21|
|COVID Relief Package Should Include USDA Business and Industry Funding||House Rules Committee||02/25/21|
|Crop Insurance Coalition Budget Letter: Budget||House, Senate Budget Committees||02/24/21|
|Crop Insurance Coalition Budget Letter: Appropriations||House, Senate Appropriations Committees||02/24/21|
|Lender Letter to House Committees Regarding USDA Rural Development Loans||02/22/21|
|Letter Opposing CoBank Amendment||House, Senate Appropriations Subcommittees||12/04/20|
|ICBA Letter in Support of H.R. 8410||Rep. Andy Barr||10/08/20|
|Lender Livestock Trust Letter 7-28-20||U.S. Senate Committee on Agriculture, Nutrition & Forestry||07/28/20|
|Comments on Farm Credit System Appraisals||Farm Credit Administration||07/20/21|
|Letter to USDA on SDA Loan Payoffs||USDA||04/09/21|
|Comments on OMB MSA Proposal||OMB||03/18/21|
|Crop Insurance Coalition Budget Letter: Administration||USDA, OMB||02/24/21|
|ICBA Hemp Comment Letter 10-8-20||USDA||10/08/20|
|Agriculture Coalition Letter to Governors||Governors||03/24/20|
|Agriculture Spring Planting Season Letter to President Trump||President Donald Trump||03/19/20|
|ICBA Comment Letter on NEPA||CEQ||03/10/20|
|Comment Letter: USDA Hemp IFR January 29 2020||U.S. Domestic Hemp Production Program||01/29/20|
|Reporting of Data on Loans to Small Businesses and Small Farms||FDIC, Fed, OCC||12/16/19|
|ICBA Review Review of Credit Conditions Report from Agricultural Lenders||House Agriculture Committee||Steven J. Handke||12/11/19|
|Review of Credit Conditions—Report from the Farm Credit Administration||House Agriculture Subcommittee on Commodity Exchanges, Energy and Credit||Written Statement||11/19/19|
ICBA called on the USDA to ensure lenders are compensated for lost income as it prepares to pay off direct and guaranteed farm loans held by Socially Disadvantaged Farmers and Ranchers.
Background: Section 1005 of the American Rescue Plan Act requires the USDA to pay off such loans in existence as of Jan. 1, 2021, by providing up to 120 percent of the outstanding indebtedness for each SDA borrower. The USDA is establishing a process for these loan payments.
Impact: In a letter, ICBA said the abrupt payoff of guaranteed loans could have adverse consequences unless the USDA minimizes disruptions to lenders participating in its guaranteed loan programs or acting as secondary market purchasers.
ICBA Position: In addition to making lenders whole, ICBA also said purchasers of USDA loan guarantees should be paid for lost premium values. Further, the USDA could consider assuming the payments of loans that are not delinquent and have not been associated with previous legal challenges, ICBA said.