Federal Workers Banking Assistance Act

I 116TH CONGRESS 1ST SESSION H. R. 800 To amend the Community Reinvestment Act of 1977 to provide financial institutions with credit for providing assistance during Government shut- downs. 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. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Federal Workers 4 Banking Assistance Act’’. 5 VerDate Sep 11 2014 04:09 Feb 02, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H800.IH H800 kjohnson on DSK79L0C42 with BILLS 2 •HR 800 IH SEC. 2. CRA CREDIT FOR PROVIDING ASSISTANCE DURING 1 GOVERNMENT SHUTDOWNS. 2 Section 804 of the Community Reinvestment Act of 3 1977 (12 U.S.C. 2903) is amended by adding at the end 4 the following: 5 ‘‘(e) ASSISTANCE DURING GOVERNMENT SHUT- 6 DOWNS.— 7 ‘‘(1) IN GENERAL.—In assessing and taking 8 into account, under subsection (a), the record of a 9 financial institution, the appropriate Federal finan- 10 cial supervisory agency shall consider, as a factor, 11 efforts of the financial institution to modify terms 12 on existing loans, extend new loans with low- to no- 13 interest rates, or the waiving of fees to help covered 14 employees, if such modification or extension is done 15 in a safe and sound manner. 16 ‘‘(2) GUIDANCE.—The appropriate Federal fi- 17 nancial supervisory agencies shall issue guidance 18 with respect to this subsection not later than the end 19 of the 7-day period following— 20 ‘‘(A) the date of enactment of this sub- 21 section; and 22 ‘‘(B) any lapse in Federal appropriations. 23 ‘‘(3) COVERED EMPLOYEE.—For purposes of 24 this subsection, the term ‘covered employee’ 25 means— 26 VerDate Sep 11 2014 04:09 Feb 02, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H800.IH H800 kjohnson on DSK79L0C42 with BILLS 3 •HR 800 IH ‘‘(A) a Federal or District of Columbia em- 1 ployee furloughed or excepted from such fur- 2 lough during any lapse in Federal appropria- 3 tions; and 4 ‘‘(B) a Federal contractor who, during any 5 lapse in Federal appropriations, is not receiving 6 pay by reason of such lapse.’’. 7 Æ VerDate Sep 11 2014 04:09 Feb 02, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H800.IH H800 kjohnson on DSK79L0C42 with BILLS