ICBA calls for farm aid package favorable community bank treatment

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.