Byline, others removed by USDA from lending program, American Banker reports

The U.S. Department of Agriculture is tightening oversight of its lending programs by removing 10 lenders linked to roughly $620M in delinquent loans, signaling a sharper focus on credit quality and compliance risk within its portfolio, while Agriculture Secretary Brooke Rollins emphasized a “zero tolerance” stance toward lender misconduct and noncompliance, American Banker’s John Reosti reports. Projects in default include Michigan’s Pine Mountain Timberstone Ski & Gold Resort, Got Wine, LLC. in Illinois, Hoosier Hospitality of French Lick LLC in Indiana, and construction financing for U.S. Eagle Federal Credit Union in Ohio. Other lenders no longer able to offer OneRD Guaranteed Loans include Greater Nevada Credit Union, U.S. Eagle Federal Credit Union, Community Bank & Trust – West Georgia, Genisys Credit Union, Byline Bank (BY), Optus Bank, Celtic Bank, Bank of Montgomery Bank, and ReadyCap Commercial (RC).