Shutdown Guidance for Financial Institutions Act

Summary

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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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 20 November 2019

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 20 November 2019

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• Introduced in Senate

  summary · EN · 20 November 2019

  Open at official source

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