This legislation mandates that Federal financial regulators , in consultation with State banking regulators, jointly issue guidance within 180 days of enactment. This guidance will encourage financial institutions to work proactively with consumers and businesses experiencing financial hardship due to a Federal Government shutdown . Key provisions include recognizing potential payment difficulties on debts like mortgages and student loans, and considering prudent efforts to modify existing loan terms or extend new credit consistent with safe lending practices. Furthermore, the guidance aims to prevent adverse information from being reported to consumer reporting agencies in a manner that harms the creditworthiness of affected individuals. Upon the start of a shutdown, regulators must issue a press release within 24 hours to alert the public and financial institutions to this guidance. After a shutdown concludes, the regulators are required to submit a report to Congress analyzing the guidance's effectiveness and update it if any shortcomings are identified.