Skip to main content
Federal & State Lawfederalstatelaw.com
Home/Federal/Bills (Live)
HOUSE 5739118th CongressReferred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Shutdown Guidance for Financial Institutions Act

Last Action
9/26/2023

Actions

  • 2023-09-26Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • 2023-09-26Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • 2023-09-26Introduced in House
  • 2023-09-26Introduced in House

CRS Summary

As of 2023-09-26 (00)

Shutdown Guidance for Financial Institutions Act

This bill directs financial regulators—including the Federal Reserve Board, the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration—to issue guidance relating to a government shutdown. Among other things, financial regulators must issue guidance encouraging financial institutions

  • to modify loan terms and to extend credit to consumers and businesses affected by a shutdown, and
  • to take steps to prevent the reporting of adverse credit information related to a shutdown.

Financial regulators must also notify the public of this guidance in the event of a government shutdown, and complete a report after a government shutdown regarding the guidance's effectiveness.  

Cosponsors (14)

  • ELEANOR NORTON (D-DC)
  • David Trone (D-MD)
  • Gerald Connolly (D-VA)
  • Andrea Salinas (D-OR)
  • Jennifer McClellan (D-VA)
  • Jim Costa (D-CA)
  • Jamie Raskin (D-MD)
  • Donald Beyer (D-VA)
  • Sean Casten (D-IL)
  • Josh Gottheimer (D-NJ)
  • Debbie Dingell (D-MI)
  • William Keating (D-MA)
  • Mikie Sherrill (D-NJ)
  • Jahana Hayes (D-CT)
Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.