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Titles (2)

Short Titles

Short Titles - Senate

Short Title(s) as Introduced

Shutdown Guidance for Financial Institutions Act

Official Titles

Official Titles - Senate

Official Titles as Introduced

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.

Actions Overview (1)

Date Actions Overview
11/20/2019Introduced in Senate

All Actions (1)

Date All Actions
11/20/2019Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Action By: Senate

Cosponsors (0)

No cosponsors.

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
Senate Banking, Housing, and Urban Affairs11/20/2019 Referred to

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Latest Summary (1)

There is one summary for S.2919. View summaries

Shown Here:
Introduced in Senate (11/20/2019)

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.