Showing 1 results for:

National Rural Lenders Association

by Topic

All results

1
Banks Throw A Fit As Black Farmers Are Approved For The $4B Relief Plan That They Deserve

Justice for Black farmers! Following the $4 billion debt relief for Black farmers, The New York Times reports that banks are fighting back noting that quick repayments will cut into profits. The institutions are complaining that the government’s initiative to pay off the loans of those Black farmers who have faced decades of financial discrimination will not only hurt investors but cut into the bank’s profits. In March, Congress passed a $1.9 trillion stimulus package which includes the debt relief for the Black farmers and is intended to make things right for years of discrimination faced by all nonwhite farmers. Today, no money still has been received by those farmers. Aside from the drama with the banks, white farmers sued the U.S.D.A over the initiative claiming that they are victims of reverse discrimination. Now, three of the largest banking groups involved in the settlement have formed their own fight against the money that is rightfully owed to Black farmers. The American...

Shanique Yates

May 20, 2021