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HR 7913 116th Congress House

Financial Institution Forbearance Act

Official title: To amend the CARES Act to improve the temporary relief from troubled debt restructurings, and for other purposes.

Introduced: July 31, 2020 See on congress.gov
Finance and Financial Sector Accounting and auditingBanking and financial institutions regulationCardiovascular and respiratory healthCredit and credit markets
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Economic performance and conditionsEmergency medical services and trauma careFinancial crises and stabilizationInfectious and parasitic diseases
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 2020
Referred to the House Committee on Financial Services.
Jul 31, 2020
Introduced in House
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 Latest action July 31, 2020

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Financial Institution Forbearance Act

This bill extends the time period during which a financial institution may suspend certain determinations and accounting principles for loan modifications related to the COVID-19 (i.e., coronavirus disease 2019) pandemic that would otherwise be categorized as a troubled debt restructuring for reporting purposes. Specifically, the bill extends this period to March 1, 2021. Currently, this period expires on the earlier of the date 60 days after the expiration of the emergency declaration or December 31, 2020.

Additionally, if a depository institution elects to suspend these requirements, the appropriate supervisory banking agency is generally prohibited, until April 1, 2022, from requiring these loans to be classified as impaired for credit risk purposes.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 7913: Financial Institution Forbearance Act. 116th Congress. Open America. https://openamerica.io/bill/116-HR-7913/
MLA
"H.R. 7913: Financial Institution Forbearance Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-7913/.
Bluebook (legal)
H.R. 7913, 116th Cong. (2026), https://openamerica.io/bill/116-HR-7913/.
Markdown link
[H.R. 7913: Financial Institution Forbearance Act](https://openamerica.io/bill/116-HR-7913/)
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