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ICBA Backs Streamlined USDA Programs

ICBA Backs Streamlined USDA Programs

Oct. 23, 2018 — ICBA applauded the USDA for proposing to streamline its Rural Development Agency and standardize regulations for four guaranteed loan programs. Through its OneRD initiative, the department intends to develop a common platform for its business and industry, community facility, water and waste disposal, and rural energy programs.

In a comment letter, ICBA said the USDA should indeed work to make the programs more efficient, reduce costs, align agency practices with industry practices, and allow USDA staff to serve more lenders and borrowers.

ICBA also called on the department to proceed with the initiative through standard proposed rulemaking processes, maximize community bank participation, emphasize private-sector lending over USDA direct loans, minimize regulatory burdens across its programs, and bar unregulated lenders, among other recommendations.

Read ICBA Comment Letter

 

 

 

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