|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|
Legislation promotes access to credit in rural communities
Washington, D.C. (July 1, 2021) — The Independent Community Bankers of America (ICBA) today expressed its strong support for the Senate introduction of the Enhancing Credit Opportunities in Rural America (ECORA) Act to support farmers, ranchers and rural homeowners.
The ECORA Act (S. 2202/H.R. 1977) would exempt from taxation interest income on farm real estate and rural mortgage loans, allowing community banks to lower loan rates and more efficiently serve these borrowers. Sen. Jerry Moran (R-Kan.) introduced the bill in the Senate following House introduction earlier this year by Reps. Ron Kind (D-Wis.) and Randy Feenstra (R-Iowa).
“With community banks making 80 percent of banking industry agricultural loans, ICBA strongly supports the Enhancing Credit Opportunities in Rural America Act to help them offer lower rates in rural communities," ICBA President and CEO Rebeca Romero Rainey said. "This important legislation will help sustain and revive rural economies affected by the COVID-19 pandemic while providing community bank lenders with benefits they can pass on to customers, similar to other rural credit providers."
With rural America and the agricultural sector facing continued challenges, ECORA will:
ICBA looks forward to working with Congress to advance this critical legislation.
The Independent Community Bankers of America creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
With nearly 50,000 locations nationwide, community banks constitute 99 percent of all banks, employ more than 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5 trillion in assets, over $4.4 trillion in deposits, and more than $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.