Administrative Changes to Provide Authority to Approve Releases of Liability in Connection with Voluntary Liquidations

概要

The Consolidated Farm Service Agency (CFSA) is the successor to the Farmers Home Administration pursuant to Section 226 of the Department of Agriculture Reorganization Act of 1994 (Pub. L. 103-354, October 13, 1994). The CFSA amends its Property Management, Chattel Property, and Real Property regulations to conform with changes made to its debt settlement regulations in April 1993. These conforming changes are made to give State Directors release of liability authority for borrowers whose total indebtness is less than one million dollars. The intended effect is to expedite the processing of requests from borrowers who are unable to repay all of their CFSA debts.