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Shutdown Guidance for Financial Institutions Act

USA116th CongressS-2919| Senate 
| Updated: 11/20/2019
Chris Van Hollen

Chris Van Hollen

Democratic Senator

Maryland

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
Sep 23, 2019

Latest Companion Bill Action

HR 116-2290
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Nov 20, 2019
Introduced in Senate
Nov 20, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • September 23, 2019

    Latest Companion Bill Action

    HR 116-2290
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • November 20, 2019
    Introduced in Senate


  • November 20, 2019
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Related Bills

  • HR 116-2290: Shutdown Guidance for Financial Institutions Act
Administrative law and regulatory proceduresAppropriationsBanking and financial institutions regulationCongressional oversightConsumer affairsConsumer creditCredit and credit marketsGovernment employee pay, benefits, personnel managementGovernment information and archives

Shutdown Guidance for Financial Institutions Act

USA116th CongressS-2919| Senate 
| Updated: 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Sep 23, 2019

Latest Companion Bill Action

HR 116-2290
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Nov 20, 2019
Introduced in Senate
Nov 20, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • September 23, 2019

    Latest Companion Bill Action

    HR 116-2290
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • November 20, 2019
    Introduced in Senate


  • November 20, 2019
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Chris Van Hollen

Chris Van Hollen

Democratic Senator

Maryland

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 116-2290: Shutdown Guidance for Financial Institutions Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresAppropriationsBanking and financial institutions regulationCongressional oversightConsumer affairsConsumer creditCredit and credit marketsGovernment employee pay, benefits, personnel managementGovernment information and archives