S. 2995: Shutdown Guidance for Financial Institutions Act
A Senate bill (S.) in the 119th U.S. Congress.
Overview
| Congress | 119th U.S. Congress (2025–2026) |
|---|---|
| Type | Senate bill (S.) |
| Originating chamber | Senate |
| Introduced | 2025-10-09 |
| Sponsor | Sen. Van Hollen, Chris [D-MD] |
| Policy area | Finance and Financial Sector |
| Cosponsors | 6 |
| Latest action | 2025-10-09 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Last updated | 2025-10-24 |
Summary
Official summary (Introduced in Senate, 2025-10-09):
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 jointly issue guidance relating to a government shutdown.
Specifically, financial regulators must issue guidance encouraging financial institutions to
- work with consumers and businesses affected by a shutdown,
- recognize that consumers and businesses affected by a shutdown may lose access to credit and face temporary hardship in making payments on debts,
- consider efforts to modify terms on existing loans or extend new credit to assist consumers and businesses affected by a shutdown, and
- take steps to prevent adverse credit information from being reported in a manner that harms consumers affected by a shutdown.
In addition, financial regulators must jointly issue a press release to notify financial institutions, consumers, and businesses of this guidance in the event of a government shutdown.
Financial regulators must also complete a report after a government shutdown regarding the guidance's effectiveness and update the guidance if any shortcoming are identified in the report.
Cosponsors (6)
| Name | Party / state |
|---|---|
| Angela D. Alsobrooks | D MD (original cosponsor) 2025-10-09 |
| Tim Kaine | D VA (original cosponsor) 2025-10-09 |
| Mark R. Warner | D VA (original cosponsor) 2025-10-09 |
| Kirsten E. Gillibrand | D NY (original cosponsor) 2025-10-09 |
| Cory A. Booker | D NJ (original cosponsor) 2025-10-09 |
| Jeff Merkley | D OR (original cosponsor) 2025-10-09 |
Full text & official record
The official bill text, section-by-section summary, amendments, committee reports, and the complete legislative timeline for S. 2995 are published by Congress on congress.gov.
View S. 2995 on congress.gov →
Frequently asked questions
What is S. 2995?
S. 2995 is a Senate bill (S.) introduced in the 119th U.S. Congress, originating in the Senate. Official title: Shutdown Guidance for Financial Institutions Act.
Where can I read the full bill text?
The full text, cosponsors, amendments, and legislative status for S. 2995 are available on congress.gov.
Bill data: congress.gov API (official congressional records).