US HB5689

Federal financial regulators must jointly issue guidance within 180 days encouraging financial institutions to work with consumers and businesses affected by government shutdowns, including considering loan modifications and new credit extensions

Financial institutions are encouraged to prevent adverse credit reporting for shutdown-affected consumers, ensuring modified credit arrangements don't harm creditworthiness

Regulators must issue a joint press release within 24 hours of any shutdown beginning to alert institutions, consumers, and businesses about the guidance

Within 90 days after a shutdown ends, regulators must report to Congress on the guidance's effectiveness and update the guidance within 180 days if shortcomings are identified

Covered individuals include furloughed federal employees, D.C. government workers unpaid due to shutdowns, and federal contractor employees experiencing substantial pay reductions