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USDA/RBS RIN: 0570-AB08 Publication ID: Spring 2022 
Title: ●Changes to the Servicing and Liquidation Requirements for Business & Industry Guaranteed Loans  
Abstract:

The Rural Business Cooperative Service (RBCS) is proposing to amend 7 CFR 4287 subpart B by publishing a final rule with the intent to clarify the current regulation and update certain provision to align with 7 CFR 5001 (OneRD).

With the implementation of OneRD and for guaranteed loans originated after October 1, 2020, Business and Industry loans are originated and serviced under OneRD regulation. Agency currently has and anticipates a growing number of Borrowers whose existing guaranteed loans are serviced in accordance with 7 CFR 4287 subpart B have or will obtain additional guaranteed loans that will be serviced under OneRD.

The expected outcomes of the administrative updates to the current regulation will make it a more understandable document for RBCS borrowers and minimize confusion. The changes are also expected to increase the efficient implementation of the program which ultimately benefits RBCS borrowers. 

 
Agency: Department of Agriculture(USDA)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 7 CFR 4287, subpart B     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 5 U.S.C. 301    7 U.S.C. 1932(a)    7 U.S.C. 1989   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Final Rule; Request for Comment  07/00/2022 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Justin Kirking
Servicing Branch-Chief
Department of Agriculture
Rural Business-Cooperative Service
1400 Independence Avenue SW,
Washington, DC 20250
Phone:608 606-0298