IV 
109TH CONGRESS 
1ST SESSION 
H. CON. RES. 257 
Expressing the sense of the Congress with regard to a moratorium on the 
payment of principal or interest on certain mortgage loans, small business 
loans, and consumer loans for residents of a Federal disaster area. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 29, 2005 
Mr. RENZI (for himself and Mr. MATHESON) submitted the following concur-
rent resolution; which was referred to the Committee on Financial Serv-
ices 
CONCURRENT RESOLUTION 
Expressing the sense of the Congress with regard to a mora-
torium on the payment of principal or interest on certain 
mortgage loans, small business loans, and consumer 
loans for residents of a Federal disaster area. 
Whereas every American heart goes out to the people hurt or 
displaced by Hurricane Katrina and Hurricane Rita and 
their aftermath—collectively one of the worst natural dis-
asters ever experienced by the United States of America; 
Whereas the suffering of the people caught by Hurricane 
Katrina or Hurricane Rita will continue, at the very 
least, for the next few months;
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Whereas our financial institutions have done and are doing 
an excellent job of dealing with many of the dislocations 
caused by Hurricane Katrina and Hurricane Rita; 
Whereas a suspension of mortgage loan, small business loan, 
and consumer loan payments in the affected areas, for 
those who are not in a position to pay, would be both a 
tremendous help and a humanitarian gesture to aid those 
afflicted; and 
Whereas the Congress of the United States wants to do ev-
erything humanly possible to assist in aiding those in 
need and returning matters to normalcy: Now, therefore, 
be it 
Resolved by the House of Representatives (the Senate 
concurring), That it is the sense of the Congress that— 
(1) a voluntary moratorium on the payment of 
both principal and interest, by those who are not in 
a position to pay, on mortgage loans, small business 
loans, and consumer loans should be recognized by 
creditors, to the extent permitted by law including 
regulations, for a 90-day period beginning on August 
28, 2005, with respect to borrowers who as of such 
date resided in, or whose businesses were located 
within, an area in which the President, pursuant to 
section 401 of the Robert T. Stafford Disaster Relief 
and Emergency Assistance Act, determined, on or 
after August 28, 2005, that a major disaster exists; 
(2) creditors should take into account the effect 
of this dislocation and, to the extent permitted by
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law including regulations, provide flexibility to af-
fected consumers when considering applications for 
new loans and credit accounts from consumers who 
resided in the devastated communities on August 28, 
2005; 
(3) Federal financial institution regulatory 
agencies should— 
(A) provide written guidance for financial 
institutions in implementing a voluntary mora-
torium described in paragraph (1), and any 
other permissible forbearance, to ensure that 
such financial institutions are not negatively 
impacted by acting in accordance with the in-
tention of the Congress; and 
(B) take this forbearance policy into con-
sideration as they examine or audit the finan-
cial status of regulated financial institutions; 
and 
(4) creditors should refrain from negative re-
porting with respect to any such loans to any con-
sumer reporting agency during this period. 
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