WASHINGTON, D.C. — The United States Department of Agriculture has removed 10 lenders from its Rural Development OneRD Guaranteed Lending Program, citing delinquent loan portfolios and compliance concerns tied to federally backed rural lending programs.
Agriculture Secretary Brooke Rollins announced the action, stating the lenders would be barred from further participation in the program.
According to the USDA, the lenders collectively hold approximately $620 million in delinquent loans, representing about 47% of all delinquent loans within Rural Development’s guaranteed lending portfolio.
“The Trump Administration has absolutely no tolerance for the irresponsible and noncompliant actions of these lenders and has banned them from participating in USDA guaranteed lending programs,” Rollins stated. “I will continue to protect the American taxpayer and ensure their hard-earned dollars are spent where they belong – on projects that revive and strengthen rural America.”
The lenders removed from the program are:
- Bank of Montgomery
- Byline Bank
- Celtic Bank
- Community Bank & Trust – West Georgia
- Genisys Credit Union
- Greater Nevada Credit Union
- North Avenue Capital
- Optus Bank
- U.S. Eagle Federal Credit Union
- ReadyCap Commercial
USDA indicated the action is part of a broader effort to strengthen oversight and improve performance within the OneRD Guaranteed Lending Program, which supports financing for rural infrastructure, housing, healthcare, broadband, transportation and business development projects.
The department stated that more than 750 lenders remain active participants in the program.
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