H.R. 5739 · 118th Congress
Shutdown Guidance for Financial Institutions Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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WextonSponsor14 cosponsors · 14 D
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Costa
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Connolly
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McClellan
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Norton
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Raskin
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Salinas
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Trone
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Beyer
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Casten
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Gottheimer
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Dingell
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Keating
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Sherrill
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Hayes7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · Sep 26, 2023
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Shutdown Guidance for Financial Institutions Act
Latest action (Sep 26, 2023): Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Sep 26, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.