[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H. Con. Res. 60 Introduced in House (IH)]

113th CONGRESS
  1st Session
H. CON. RES. 60

  Expressing the sense of Congress that financial institutions should 
 work proactively with their customers affected by the shutdown of the 
Federal Government who may be facing short-term financial hardship and 
 long-term damage to their creditworthiness through no fault of their 
                                  own.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 11, 2013

  Ms. Waters (for herself, Mr. Hoyer, Mr. Van Hollen, Mr. Moran, Ms. 
Edwards, Mr. Connolly, Ms. Norton, Mrs. Carolyn B. Maloney of New York, 
Mr. Watt, Mr. Sherman, Mr. Meeks, Mr. Capuano, Mr. Hinojosa, Mr. Clay, 
   Mr. Lynch, Mr. David Scott of Georgia, Mr. Al Green of Texas, Mr. 
Cleaver, Ms. Moore, Mr. Ellison, Mr. Perlmutter, Mr. Himes, Mr. Carney, 
 Ms. Sewell of Alabama, Mr. Foster, Mr. Kildee, Mr. Murphy of Florida, 
  Mr. Delaney, Mrs. Beatty, and Mr. Heck of Washington) submitted the 
following concurrent resolution; which was referred to the Committee on 
 Financial Services, and in addition to the Committee on Oversight and 
 Government Reform, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

_______________________________________________________________________

                         CONCURRENT RESOLUTION


 
  Expressing the sense of Congress that financial institutions should 
 work proactively with their customers affected by the shutdown of the 
Federal Government who may be facing short-term financial hardship and 
 long-term damage to their creditworthiness through no fault of their 
                                  own.

    Resolved by the House of Representatives (the Senate concurring), 
That it is the sense of Congress that--
            (1) financial institutions should work with their customers 
        affected by the shutdown of the Federal Government that began 
        on October 1, 2013;
            (2) individuals affected by the shutdown who are or will be 
        facing financial distress should contact their lenders to alert 
        them of their situation immediately;
            (3) affected customers may face financial hardship in 
        making timely payments on their debts, such as mortgages, 
        student loans, car loans, credit cards, and other debt due to 
        the temporary delay or permanent loss of their salaries;
            (4) financial institutions should consider temporarily 
        waiving or reducing penalty, late payment, and similar fees in 
        order to provide quick relief to their affected customers;
            (5) affected employees of the Federal Government may be 
        experiencing financial stress through no fault of their own and 
        their creditworthiness should not be impaired because of the 
        shutdown;
            (6) prudent workout arrangements that are consistent with 
        safe and sound lending practices are generally in the long-term 
        best interest of the financial institution, the borrower, and 
        the economy;
            (7) financial institutions should work proactively to 
        identify their customers who have been affected and adopt 
        flexible, prudent arrangements to help such customers meet 
        their debt obligations;
            (8) prudent efforts to adopt flexible workout arrangements 
        for affected employees and their families should not be subject 
        to examiner criticism or negative examinations; and
            (9) employees furloughed due to the shutdown of the Federal 
        Government should be compensated at their standard rate of 
        compensation for the period beginning October 1, 2013, through 
        the date on which the lapse in appropriations ends, consistent 
        with the principle adopted by the House when it passed the 
        bill, H.R. 3223 on October 5, 2013, by a vote of 407-0.
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