Shutdown Guidance for Financial Institutions Act

This bill requires federal financial regulators (like the Fed and CFPB) to issue guidance within 180 days of enactment, directing banks and lenders to assist consumers and businesses affected by government shutdowns. It defines affected groups as furloughed federal employees, DC workers without pay, or contractors facing income loss due to shutdowns. The guidance mandates lenders to help these groups with loan modifications, prevent credit score harm from temporary payment difficulties, and avoid reporting modified loans negatively. Regulators must also issue a public alert at shutdown start and submit a post-shutdown effectiveness report to Congress within 90 days.