As an FCS borrower, you have the following rights:
- To know the current effective rate of interest on your loan by the date it closes
- To be informed that you are required to purchase at-risk stock in your FCS institution
- To receive copies of all the documents you have signed by the time the loan closes
- To be informed promptly as to whether your loan application has been accepted, reduced, or denied
- To be informed of your right to request restructuring for your loan if you cannot meet current payments
- To obtain a credit committee review of a denial or reduction of a loan request and a denial of a restructuring request
- To have first refusal when your FCS institution decides to sell any agricultural property it has acquired from you
Please note that these rights do not extend to agricultural cooperatives that borrow from an FCS institution.
For additional information, please see Frequently asked questions about borrower rights.
What to do if you believe your rights have been violated
If you believe your rights have been violated, you should inform the institution and make a good faith effort to resolve the problem.
If this fails, you may wish to seek legal counsel. Some states have loan mediation programs certified by the secretary of agriculture. If you initiate mediation through one of these programs, your institution is required to cooperate with requests for information and to consider debt restructuring proposals.
Should you contact FCA?
FCA does not have the authority to interfere in the management or business decisions of an FCS institution unless federal law or regulations have been violated or unless the decisions affect the safety and soundness of the institution. We do not mediate disputes between borrowers and FCS institution, and FCA does not intervene in legal proceedings between borrowers and System institutions.
If you feel an institution has failed to provide you all your rights, has broken a statute or regulation, or has made a decision compromising the safety and soundness of the institution, please contact FCA and provide the following information in writing:
- Name(s) of the borrower(s)
- Loan number(s)
- Name and address of the lending institution servicing the loan
- The specific statute, regulation, or right you believe has been violated
- The dates involved
- Other supporting documentation
Send your correspondence to
Office of Congressional and Public Affairs
Farm Credit Administration
1501 Farm Credit Drive
McLean, VA 22102-5090
The borrower complaint process is an informal process in which FCA investigates complaints against System institutions regarding noncompliance with the laws and regulations over which FCA has enforcement authority. These investigations are not designed to provide financial restitution to borrowers or to be an administrative adjudication of the dispute between the borrower and the institution. If, in the course of these investigations, we identify any violations of law or regulation, these findings are handled under our examination and enforcement authorities, which include the authority to issue borrower rights directives.