The Fair Credit for Farmers Act reforms farm loans and the appeals process for adverse decisions.
The Fair Credit for Farmers Act amends the Consolidated Farm and Rural Development Act to reform farm loans and the appeals process for adverse decisions. It allows the Secretary of Agriculture to defer payments on direct farm loans for two years, extend loan maturity dates, and reduce interest rates. The Act also reforms the National Appeals Division process by shifting the burden of proof to the agency in certain cases and requiring detailed reasons for adverse decisions.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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