Bill · S. 2995· Senate(119-S-2995)
Shutdown Guidance for Financial Institutions Act
- Introduced
- 10/9/2025
- Last activity
- 10/9/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Chris Van Hollen
- Cosponsors
- - 6 - 0
- Introduced
- In Committee
What this bill would do
The Shutdown Guidance for Financial Institutions Act requires Federal financial regulators to issue guidance to the financial institutions they oversee. This guidance encourages these institutions to work with consumers and businesses that are impacted by a Federal Government shutdown. The bill defines affected parties as including furloughed Federal employees, District of Columbia employees not receiving pay, and Federal contractors or businesses facing substantial income reductions. Regulators are tasked with encouraging institutions to modify loan terms or extend credit to help those facing temporary hardships. Additionally, the bill aims to prevent adverse credit reporting that could harm a consumer's creditworthiness due to the shutdown.
Yes· 3 of 8
Would households on low incomes be better off under this?+4
The bill aims to protect consumers from adverse credit reporting and encourages loan modifications during periods of lost income.
Would business owners be better off under this?+4
The bill encourages financial institutions to work with businesses facing substantial income reductions due to a government shutdown.
Does this make it easier to run a small business?+4
The bill encourages financial institutions to extend new credit or modify terms for businesses facing substantial income reductions due to a shutdown.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Financial assistance through loan modifications: The guidance encourages financial institutions to consider modifying terms on existing loans or extending new credit to help those facing temporary hardships (Section 2(b)(3)).
-
Protection of credit scores: The bill encourages institutions to take steps to prevent adverse information from being reported to consumer reporting agencies in a way that harms a consumer's creditworthiness during a shutdown (Section 2(b)(4)).
-
Support for various affected groups: The bill provides a framework to assist individuals such as furloughed Federal employees, District of Columbia employees not receiving pay, and businesses or contractors facing a substantial reduction in pay or income (Section 2(a)(1) and (2)).
Potential Negative Impacts for People
- No specific negative impacts are mentioned in the text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+4Good For Low Income Households+4Good For Middle Class Households+3Good For Students+3
- Economy And Finance
- Improves Small Business Support+4
- Education And Technology
- Improves Student Loan Relief+3
- Social Issues And Justice
- Improves Poverty Reduction+3
- Governance And Ideology
- Improves Government Transparency+2
- 10/9/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 6 Cosponsors added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Angela AlsobrooksDemocrat · Maryland
Cory BookerDemocrat · New Jersey
Kirsten GillibrandDemocrat · New York
Timothy KaineDemocrat · Virginia
Jeff MerkleyDemocrat · Oregon
Mark WarnerDemocrat · Virginia