# 116-hr-7913: Financial Institution Forbearance Act

116-hr-7913, Financial Institution Forbearance Act, is a 116th Congress bill sponsored by Rep. Luetkemeyer, Blaine [R-MO-3] (R-MO); status Referred to the House Committee on Financial Services. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7913
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-7913
- Congress: 116
- Title: Financial Institution Forbearance Act
- Status: Referred to the House Committee on Financial Services.
- Introduced: 2020-07-31
- Sponsor: Rep. Luetkemeyer, Blaine [R-MO-3] (R-MO)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

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.

## Cosponsors (1)

- Rep. Perlmutter, Ed [D-CO-7] (D-CO), 2020-08-22T00:00:00.000Z

## Related bills

- 116-hr-8662: Accelerating Access to Critical Therapies for ALS Act
- 116-hr-7688: Portal for Appraisal Licensing Act of 2020
- 116-hr-7564: SEC Data Protection Act
- 116-hr-6934: Uniform Treatment of NRSROs Act
- 116-hr-6829: EMPIL–DOC Act
- 116-hr-5995: Major Richard Star Act

## Sources
- [116-hr-7913 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7913)

## Related
- [116-hr-8662: Accelerating Access to Critical Therapies for ALS Act](https://policyrisk.com/legislation/116-hr-8662)
- [116-hr-7688: Portal for Appraisal Licensing Act of 2020](https://policyrisk.com/legislation/116-hr-7688)
- [116-hr-7564: SEC Data Protection Act](https://policyrisk.com/legislation/116-hr-7564)
- [116-hr-6934: Uniform Treatment of NRSROs Act](https://policyrisk.com/legislation/116-hr-6934)
- [116-hr-6829: EMPIL–DOC Act](https://policyrisk.com/legislation/116-hr-6829)
- [116-hr-5995: Major Richard Star Act](https://policyrisk.com/legislation/116-hr-5995)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7913 (as of 2025-11-18).