Shutdown Guidance for Financial Institutions Act
Official title: A bill to require the Federal financial regulators to issue guidance encouraging financial institutions to work with consumers and businesses affected by a Fed… Show full official titleShow less
Official title: A bill 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.
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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 jointly issue guidance relating to a government shutdown.
Specifically, financial regulators must issue guidance encouraging financial institutions to
- work with consumers and businesses affected by a shutdown,
- recognize that consumers and businesses affected by a shutdown may lose access to credit and face temporary hardship in making payments on debts,
- consider efforts to modify terms on existing loans or extend new credit to assist consumers and businesses affected by a shutdown, and
- take steps to prevent adverse credit information from being reported in a manner that harms consumers affected by a shutdown.
In addition, financial regulators must jointly issue a press release to notify financial institutions, consumers, and businesses of this guidance in the event of a government shutdown.
Financial regulators must also complete a report after a government shutdown regarding the guidance's effectiveness and update the guidance if any shortcoming are identified in the report.
- Introduced in Senate Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). S. 2995: Shutdown Guidance for Financial Institutions Act. 119th Congress. Open America. https://openamerica.io/bill/119-S-2995/
"S. 2995: Shutdown Guidance for Financial Institutions Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-S-2995/.
S. 2995, 119th Cong. (2026), https://openamerica.io/bill/119-S-2995/.
[S. 2995: Shutdown Guidance for Financial Institutions Act](https://openamerica.io/bill/119-S-2995/)