• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
FinanceAgriculture

Black and minority farmers get $2 billion in payments after USDA acknowledges years of discrimination

By
Summer Ballentine
Summer Ballentine
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Summer Ballentine
Summer Ballentine
and
The Associated Press
The Associated Press
Down Arrow Button Icon
July 31, 2024, 8:37 PM ET
Tom Vilsack
U.S. Secretary of Agriculture Tom Vilsack Photo by Alex Wong/Getty Images
Add Fortune on Google for similar content.

The Biden administration has doled out more than $2 billion in direct payments for Black and other minority farmers discriminated against by the U.S. Department of Agriculture, the president announced Wednesday.

Recommended Video

More than 23,000 farmers were approved for payments ranging from $10,000 to $500,000, according to the USDA. Another 20,000 who planned to start a farm but did not receive a USDA loan received between $3,500 and $6,000.

Most payments went to farmers in Mississippi and Alabama.

USDA Secretary Tom Vilsack told reporters that the aid “is not compensation for anyone’s loss or the pain endured, but it is an acknowledgment by the department.”

The USDA has a long history of refusing to process loans from Black farmers, approving smaller loans compared to white farmers, and in some cases foreclosing quicker than usual when Black farmers who obtained loans ran into problems.

National Black Farmers Association Founder and President John Boyd Jr. said the aid is helpful. But, he said, it’s not enough.

“It’s like putting a bandage on somebody that needs open-heart surgery,” Boyd said. “We want our land, and I want to be very, very clear about that.”

Boyd is still fighting a federal lawsuit for 120% debt relief for Black farmers that was approved by Congress in 2021. Five billion dollars for the program was included in the $1.9 trillion COVID-19 stimulus package.

But the money never came. White farmers in several states filed lawsuits arguing their exclusion was a violation of their constitutional rights, which prompted judges to halt the program shortly after its passage.

Faced with the likelihood of a lengthy court battle that would delay payments to farmers, Congress amended the law and offered financial help to a broader group of farmers. A new law allocated $3.1 billion to help farmers struggling with USDA-backed loans and $2.2 billion to pay farmers who the agency discriminated against.

Wardell Carter, who is Black, said no one in his farming family got so much as access to a loan application since Carter’s father bought 85 acres (34.4 hectares) of Mississippi land in 1939. He said USDA loan officers would slam the door in his face. If Black farmers persisted, Carter said officers would have police come to their homes.

Without a loan, Carter’s family could not afford a tractor and instead used a horse and mule for years. And without proper equipment, the family could farm at most 40 acres (16.2 hectares) of their property — cutting profits.

When they finally received a bank loan to buy a tractor, Carter said the interest rate was 100%.

Boyd said he’s watched as his loan applications were torn up and thrown in the trash, been called racial epithets, and was told to leave in the middle of loan meetings so the officer could speak to white farmers.

“We face blatant, in-your-face, real discrimination,” Boyd said. “And I did personally. The county person who was making farm loans spat tobacco juice on me during a loan session.”

At age 65, Carter said he’s too old to farm his land. But he said if he receives money through the USDA program, he will use it to get his property in shape so his nephew can begin farming on it again. Carter said he and his family want to pitch in to buy his nephew a tractor, too.

About the Authors
By Summer Ballentine
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Current price of Bitcoin for July 1, 2026
Personal FinanceCryptocurrency
Current price of Bitcoin for July 1, 2026
By Joseph HostetlerJuly 1, 2026
1 hour ago
Current price of Ethereum for July 1, 2026
Personal FinanceEthereum
Current price of Ethereum for July 1, 2026
By Joseph HostetlerJuly 1, 2026
1 hour ago
Top CD rates from major banks July 1, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal FinanceCertificates of Deposit (CDs)
Top CD rates from major banks on July 1, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerJuly 1, 2026
1 hour ago
DHL plane being refuelled at airport by man in high-vis jacket
EnergyAviation
The Iran conflict saw jet fuel prices soar—when you use 1.88 million tonnes a year, how you respond really matters (just ask DHL)
By Sam ForsdickJuly 1, 2026
1 hour ago
Current price of oil as of July 1, 2026
Personal FinanceOil
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
2 hours ago
Current price of silver as of Wednesday, July 1, 2026
Personal Financesilver
Current price of silver as of Wednesday, July 1, 2026
By Joseph HostetlerJuly 1, 2026
2 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
6 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
4 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
Commentary
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
By Marc AndersenJune 30, 2026
1 day ago
Current price of oil as of June 30 2026
Personal Finance
Current price of oil as of June 30 2026
By Joseph HostetlerJune 30, 2026
1 day ago
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
7 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.