Consumer reporting agencies are mindful of the recent shutdown of the federal government and that many government employees are not being paid while the U.S. government is closed for lack of funding.

The Consumer Data Industry Association (CDIA) is issuing guidance to companies that furnish data to consumer reporting agencies who may put an account into forbearance as a result of a consumer’s inability to make payments due to the government shutdown, or for other reasons (FAQ 45).

Reporting Credit Account Information in the Metro 2® Format for Consumers Affected by the U.S. Government Shutdown
— Reporting Forbearance Information

Forbearance is a period of time during repayment in which a borrower is permitted to temporarily postpone making regular monthly payments. The debt is not forgiven, but regular payments are suspended until a later time. As an example, forbearance may be granted if a borrower is experiencing temporary financial difficulty. The consumer may be making reduced payments, interest-only payments or no payments.

Institutions that furnish data to consumer reporting agencies in the Metro 2® Format are reminded that there is specific guidance in FAQ 45 of the Credit Reporting Resource Guide® to assist with the reporting of accounts in forbearance.

You can find the FAQ 45 and other relevant furnisher information on the Metro 2® portion of the CDIA website.