S 2919
116th Congress
Senate
Finance and Financial Sector
Administrative law and regulatory procedures
Appropriations
Banking and financial institutions regulation
Congressional oversight
Consumer affairs
Consumer credit
Credit and credit markets
Government employee pay, benefits, personnel management
Government information and archives
Shutdown Guidance for Financial Institutions Act
Introduced: November 20, 2019
Introduced by:
Van Hollen, Chris
Democratic
· Maryland
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 20, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Nov 20, 2019
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1