Federal Workers Banking Assistance Act

Bill: 116-hr-800
Sponsor: full_name: Rep. Meeks, Gregory W. [D-NY-5]
Introduced: 2019-01-25
Policy area: Finance and Financial Sector
Subjects: Accounting and auditing

Administrative law and regulatory procedures

Appropriations

Banking and financial institutions regulation

Executive agency funding and structure

Government employee pay, benefits, personnel management
Latest action: action_date: 2019-01-25
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2019-01-25
action_desc: Introduced in House
text: <p><b>Federal Workers Banking Assistance Act</b></p> <p>This bill provides additional criteria a federal financial supervisory agency may consider in its evaluation of a financial institution's community investment. Specifically, a financial institution's assistance to certain individuals affected by a federal government shutdown may be considered as part of such evaluation.</p>

tv_txt: I 116th CONGRESS 1st Session H. R. 800 IN THE HOUSE OF REPRESENTATIVES January 25, 2019 Mr. Meeks (for himself, Ms. Norton , Ms. Kelly of Illinois , Ms. Jackson Lee , Mr. Langevin , Mr. Ryan , Mr. Brown of Maryland , Mr. Vargas , Mrs. Watson Coleman , Mr. Green of Texas , Ms. Wasserman Schultz , Mr. DeSaulnier , Ms. DeLauro , Mr. Sires , Mr. Quigley , and Mr. Perlmutter ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Community Reinvestment Act of 1977 to provide financial institutions with credit for providing assistance during Government shutdowns.

1. Short title This Act may be cited as the Federal Workers Banking Assistance Act . 2. CRA credit for providing assistance during Government shutdowns Section 804 of the Community Reinvestment Act of 1977 ( 12 U.S.C. 2903 ) is amended by adding at the end the following: (e) Assistance during Government shutdowns (1) In general In assessing and taking into account, under subsection (a), the record of a financial institution, the appropriate Federal financial supervisory agency shall consider, as a factor, efforts of the financial institution to modify terms on existing loans, extend new loans with low- to no-interest rates, or the waiving of fees to help covered employees, if such modification or extension is done in a safe and sound manner. (2) Guidance The appropriate Federal financial supervisory agencies shall issue guidance with respect to this subsection not later than the end of the 7-day period following— (A) the date of enactment of this subsection; and (B) any lapse in Federal appropriations. (3) Covered employee For purposes of this subsection, the term covered employee means— (A) a Federal or District of Columbia employee furloughed or excepted from such furlough during any lapse in Federal appropriations; and (B) a Federal contractor who, during any lapse in Federal appropriations, is not receiving pay by reason of such lapse. .