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National & World Ag News Headlines |
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Judge Halts Program That Forgives Debt For Black Farmers
USAgNet - 06/15/2021
A federal judge in Wisconsin ordered a temporary stop to the $4 billion federal loan relief program for farmers of color after a group of white farmers filed a legal challenge crying discrimination.
Judge William Griesbach issued a temporary restraining order last Thursday blocking the U.S. Department of Agriculture from moving forward with the relief payments.
The program would pay up to 120% of direct or guaranteed farm loan balances for American Indian, Hispanic, Asian American, Pacific Islander and Black farmers. The program was part of President Joe Biden’s $1.9 trillion COVID-19 relief plan.
The program is also being fought by several large banking groups who complained that by giving the money to minority and Black farmers and allowing them to pay down their debts early, the banks are losing out on interest income they were expecting to receive.
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