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ABA: The American Bankers Association
Statement

ABA Statement on USDA Debt Relief for Socially Disadvantaged Farmers and Ranchers

“To address any misunderstanding, we want to reiterate ABA's position on recent legislation providing debt relief to socially disadvantaged farmers and ranchers. As we have communicated to USDA and members of Congress, we support efforts to help socially disadvantaged farmers and ranchers and have never opposed this relief. We have encouraged USDA to consider the impact this initiative will have on the smaller, community banks that participate in USDA’s guaranteed lending program. We have offered several implementation recommendations to USDA, consistent with other government debt relief programs, that we hope the department will consider as it delivers this timely relief.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $22.5 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $18 trillion in deposits and extend nearly $11 trillion in loans.

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Sarah Grano

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