Shutdown Guidance for Financial Institutions Act
Sponsored By: Representative Subramanyam
Introduced
Summary
This bill would require federal financial regulators to issue coordinated guidance to help consumers and businesses during a federal government shutdown. It focuses on encouraging lenders to ease short-term credit problems, prevent harmful credit reporting, and support prudent loan modifications.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Bank help for workers and contractors in shutdowns
If enacted, federal financial regulators would have 180 days to issue joint guidance for banks and credit unions. The guidance would urge lenders to work with people hurt by a shutdown, including unpaid or furloughed federal and DC employees, federal contractors, and businesses with big income drops. It could help with mortgages, student loans, car loans, business loans, and credit cards. Lenders would be encouraged to offer prudent loan changes or new credit and to avoid credit reporting that hurts customers for workout plans, as long as actions stay safe and sound. Within 24 hours after a shutdown starts (a funding lapse over 24 hours), regulators would issue a public notice about the guidance. After a shutdown ends, regulators would report to Congress within 90 days and update the guidance within 180 days if the report finds problems.
How this bill is budget-scored
This bill would set how its budget effects are counted under Pay-As-You-Go rules. It would use the latest "Budgetary Effects of PAYGO Legislation" statement that the House Budget Committee chair prints in the Congressional Record before the vote. This is a procedural step and would not change your taxes or benefits directly.
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Sponsors & CoSponsors
Sponsor
Subramanyam
VA • D
Cosponsors
Beyer
VA • D
Sponsored 10/3/2025
Horsford
NV • D
Sponsored 10/3/2025
Lieu
CA • D
Sponsored 10/3/2025
McClain Delaney
MD • D
Sponsored 10/3/2025
McClellan
VA • D
Sponsored 10/3/2025
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 10/3/2025
Raskin
MD • D
Sponsored 10/3/2025
Walkinshaw
VA • D
Sponsored 10/3/2025
Carson
IN • D
Sponsored 10/8/2025
Beatty
OH • D
Sponsored 10/8/2025
Mfume
MD • D
Sponsored 10/10/2025
Amo
RI • D
Sponsored 10/10/2025
Mannion
NY • D
Sponsored 10/14/2025
Rescom. Hernández, Pablo Jose [D-PR-At Large]
PR • D
Sponsored 10/17/2025
Randall
WA • D
Sponsored 10/17/2025
Vindman
VA • D
Sponsored 10/21/2025
Watson Coleman
NJ • D
Sponsored 10/28/2025
Fletcher
TX • D
Sponsored 10/31/2025
Keating
MA • D
Sponsored 10/31/2025
Titus
NV • D
Sponsored 11/12/2025
Salinas
OR • D
Sponsored 4/6/2026
Roll Call Votes
No roll call votes available for this bill.
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