WASHINGTON, D.c. (WDVM) — On Thursday, The House of Representatives passed Congresswoman Jennifer Wexton’s bill that will help protect federal government workers and contractors from the impacts of a government shutdown.
The Shutdown Guidance For Financial Institutions Act was inspired by a furloughed federal employee during the last government shutdown. She wrote a letter to Wexton stating that her mortgage application was nearly denied because she was wrongly considered unemployed. The new bill would require federal regulators to issue guidance to financial institutions to work with federal workers and contractors affected by a government shutdown.
“My bill will hopefully alleviate some of the financial hardship that people face in the wake of a shutdown,” said Congresswoman Wexton. “… and not just federal workers, but contractors and small business owners who rely on federal workers and contractors. “
The bill would also require federal financial regulators to send out guidance within 24 hours of a government shutdown.