S 2995
Shutdown Guidance for Financial Institutions Act
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Bill overview
This bill, the Shutdown Guidance for Financial Institutions Act, requires key federal financial regulators to develop and release guidance for financial institutions during a government shutdown. The guidance aims to encourage these institutions to support consumers and businesses impacted by the shutdown, such as federal employees, District of Columbia workers, and federal contractors, who may experience reduced income or access to credit. It also mandates a public announcement of the guidance and a post-shutdown report to Congress assessing its effectiveness, with updates to the guidance as needed.
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