HB5739: Shutdown Guidance for Financial Institutions Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To require the Federal financial regulators to issue guidance encouraging financial institutions to work with consumers and businesses affected by a Federal Government shutdown, and for other purposes.
Plain-language summary
This bill asks federal financial regulators to create guidance telling banks and other financial institutions how to help customers during a federal government shutdown. A shutdown happens when Congress doesn't pass a budget and many government operations pause. The bill would encourage banks to work with consumers and businesses that face problems because of the shutdown. The guidance would cover how banks should treat customers, loan payments, and other banking services during these periods. The bill is currently in the early stage after being introduced in Congress. Sponsors include representatives from both parties focused on consumer protection and financial services.
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HB5739: Shutdown Guidance for Financial Institutions Act
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Sponsors
Jennifer Wexton
Primary SponsorCo-sponsors (14)
Eleanor Norton
David Trone
Gerald Connolly
Andrea Salinas
Jennifer McClellan