Discrimination in USDA Farm Loan Programs
Helping Farmers Get the Compensation They Deserve
The Inflation Reduction Act of 2022 allocated 2.2 billion dollars to provide compensation for farmers, ranchers, and forest landowners who have faced discrimination in the USDA Farm Lending Programs prior to January 1, 2021.
There is no deadline for filing a claim, so those who have suffered from discrimination in the past are still eligible for compensation. Claims for the estates of deceased individuals are also being accepted.
How Does the Inflation Reduction Act Help Farmers?
The goal of the Act is to address inequalities in access to USDA programs, such as Direct FSA Farm loans and Guaranteed Farm loans, due to discrimination based on race, color, national origin, sex, gender, sexual orientation, religion, age, marital status, familial status, disability, retaliation for civil rights, receipt of public assistance, or political beliefs.
Such discrimination could result in loan denials, delinquent loans, underfunded loans, excessive loan application requirements, high-interest rates, and undue collateral requirements.
What is the Inflation Reduction Act?
According to Senate.gov, The Inflation Reduction Act of 2022 will make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030.
How Is AWKO Leading the Fight for Farmers?
At AWKO, we are committed to protecting the rights of individuals who have experienced discrimination while applying for a USDA lending program.
If you or a loved one has experienced discrimination while attempting to participate in a USDA lending program, please contact us today for a free and confidential consultation.