Federal regulators must issue guidance to financial institutions to help consumers and businesses during a government shutdown.

The Shutdown Guidance for Financial Institutions Act requires federal financial regulators to issue guidance to financial institutions to encourage them to work with consumers and businesses affected by a government shutdown. This includes recognizing the financial hardships these groups may face and considering modifications to existing loans or extending new credit. The regulators must issue a press release within 24 hours of a shutdown to inform stakeholders about the guidance.

Federal regulators must issue guidance to financial institutions to help consumers and businesses during a government shutdown.

The Shutdown Guidance for Financial Institutions Act requires federal financial regulators to issue guidance to financial institutions to encourage them to work with consumers and businesses affected by a government shutdown. This includes recognizing the financial hardships these groups may face and considering modifications to existing loans or extending new credit. The regulators must issue a press release within 24 hours of a shutdown to inform stakeholders about the guidance.