USDA revokes approved lender status for 10 lenders
USDA says enforcement action reinforces accountability in federally backed agricultural lending programs.
The US Department of Agriculture has revoked the approved lender status of 10 institutions participating in the USDA Rural Development OneRD Guaranteed Lending Program, citing what it described as irresponsible lending practices and violations of federal requirements.
According to the department, the lenders collectively hold roughly $620 million in delinquent loans, representing about 47% of all delinquent loans in the Rural Development portfolio. The lenders removed from the program are:
- Bank of Montgomery (BOM) Bank
- Byline Bank
- Celtic Bank
- Community Bank & Trust – West Georgia
- Genisys Credit Union
- Greater Nevada Credit Union
- North Avenue Capital
- Optus Bank
- US Eagle Federal Credit Union
- ReadyCap Commercial
USDA said the action is intended to strengthen oversight of government‑backed agricultural lending and protect producers and rural businesses that rely on its financing programs.
The agency did not indicate whether the enforcement actions will affect existing loan guarantees or the broader availability of credit through Rural Development programs. USDA noted that approved lenders are expected to maintain responsible lending practices when participating in federally supported programs.
Source: USDA
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