North Carolina S554 prohibits banks from discriminating against agriculture producers based on ESG commitments.

North Carolina S554, the Farmers Protection Act, prohibits banks from denying or canceling services to agriculture producers based on their greenhouse gas emissions, use of fossil-fuel derived fertilizer, or use of fossil-fuel powered machinery. If a bank has made an environmental, social, or governance commitment related to agriculture, there is a rebuttable presumption that any denial or restriction of service violates this prohibition. The bank can overcome this presumption by proving the denial or restriction was based solely on financial considerations.

North Carolina S554 prohibits banks from discriminating against agriculture producers based on ESG commitments.

North Carolina S554, the Farmers Protection Act, prohibits banks from denying or canceling services to agriculture producers based on their greenhouse gas emissions, use of fossil-fuel derived fertilizer, or use of fossil-fuel powered machinery. If a bank has made an environmental, social, or governance commitment related to agriculture, there is a rebuttable presumption that any denial or restriction of service violates this prohibition. The bank can overcome this presumption by proving the denial or restriction was based solely on financial considerations.