HR 5296
Fair Credit for Farmers Act of 2023
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Bill overview
The Fair Credit for Farmers Act of 2023 aims to improve access to farm loans for struggling farmers and ranchers. It proposes deferring payments on direct farm loans for economically distressed borrowers, waiving fees for historically underserved farmers, and reforming the Farm Service Agency’s loan approval process. The bill also seeks to clarify loan eligibility requirements and streamline the appeals process within the National Appeals Division, ultimately aiming to provide fairer credit options for agricultural producers.
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