Banks are under pressure to stop slapping drought impacted farmers with penalties for defaulting on their loans.

The banking Royal Commission has recommended default interest charges for farmers suffering natural disasters including drought, fires, and flooding be scrapped.

It's also calling for a farm debt mediation scheme.

To find out more about the agriculture sector's reaction to the findings, rural reporter Eddie Summerfield spoke with National Farmers Federation President Fiona Simson.

Banks are under pressure to stop slapping drought impacted farmers with penalties for defaulting on their loans.
The banking Royal Commission has recommended default interest charges for farmers suffering natural disasters including drought, fires, and flooding be scrapped.
It's also calling for a farm debt mediation scheme.
To find out more about the agriculture sector's reaction to the findings, rural reporter Eddie Summerfield spoke with National Farmers Federation President Fiona Simson.

The Rural News

The Rural News is market leader, dealing exclusively with stories of interest to the farming sector and has the support of Australia’s largest media business and international correspondents.

The Rural News is market leader, dealing exclusively with stories of interest to the farming sector and has the support of Australia&rsquo;s largest media business and international correspondents.