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ABA: The American Bankers Association
Statement
  • For Immediate Release
  • May 10, 2023

ABA Applauds Introduction of ACRE Act of 2023

“ABA applauds today’s introduction of the Access to Credit for our Rural Economy Act of 2023, and we want to express our thanks to the bill’s lead sponsors, Representatives Randy Feenstra (R-IA) and Wiley Nickel (D-NC). This bipartisan legislation will provide critical economic support to rural communities by lowering the cost of credit for rural Americans looking to buy a home or farmland. The ACRE Act would deliver approximately .4 billion in annual interest expense savings to farmers, ranchers and rural families in 2023, driving down costs and increasing access to credit for rural communities across the country. We urge all members of the House to cosponsor this critically important piece of legislation.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $24.2 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.1 trillion in deposits and extend $12.6 trillion in loans.

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