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Keywords

farm depression, Great Depression, Farm Crisis, 1980’s Farm Crisis, National Appeals Division, NAD, Farm Credit Administration, FCA Borrower Rights, Chapter 12

Document Type

Article

Abstract

It is undeniable, the United States is experiencing another farm depression similar to the Great Depression of the 1930s and the Farm Crisis of the 1980s. While every era is different, knowledge of the case law developed during the farm struggles of the 1930s and 1980s, and the statutory and regulatory reforms that arose from advocacy during those difficult times will be helpful to today’s agricultural lawyers and policymakers. As farmers and ranchers again find themselves, due to circumstances beyond their control, in financial distress, they will contact attorneys, state secretaries of agriculture, state attorneys general, agriculture organizations, and state and federal policymakers. The information presented in this article will help attorneys and policymakers rapidly respond to the needs of farmers and ranchers. The 1980’s Farm Crisis may serve as the foundation from which solutions may be created and implemented to solve today’s farm economy crisis.

We begin the discussion by contextualizing the farm economy of the 1980s and explaining the immense hardships farmers faced that led to such a high number of farm foreclosures across the country. Next, we turn our attention to four major reforms born out of the struggles of the 1980’s Farm Crisis, which include improved National Appeals Division (“NAD”) appeal procedures, the creation of Farm Credit Administration (“FCA”) Borrower Rights, the creation of state mediation programs, and increased utilization of Chapter 12 bankruptcy filings. Then, we provide practical solutions and approaches to handling the current farm crisis, divided into advice for attorneys, attorneys general, commissioners and secretaries of agriculture, policymakers, and agriculture organizations. Finally, we conclude by highlighting the eerie similarities between the 1980’s Farm Crisis and present day.

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