| Entities | American Bankers Association (ABA) (5) |
| Topics and Issues |
In response to the U.S. government shutdown in 2018-2019, several FI trade associations posted information to help their members help consumers.
The Consumer Bankers of America (“CBA”) wrote that “if you are a federal worker furloughed by the partial government shutdown, please contact your bank for more information on assistance programs in place to help.” CBA provides a webpage where consumers can go to learn more about how its retail bank members are helping consumers and offers links to these banks where consumers can go to reach those banks. CBA wrote that “[b]anks are working with customers on a one-on-one basis as the partial government shutdown continues and federal employees…”
The American Bankers Association (“ABA”) has a page for consumers in its website. The ABA also has links available to its member banks for consumers and it wrote that “[e]ven before the partial government shutdown took effect, banks across the country were prepared to help those impacted. The assistance offered to customers depending on their individual circumstances has included fee waivers, loan modifications, payment deadline extensions, payroll advances, low-rate and zero-rate loans as well as other accommodations. We applaud banks of all sizes for helping their customers during this challenging period, and encourage federal employees and others in need to reach out to their financial institutions to see what help may be available.”
The National Credit Union Association (“NCUA”) offers on its website a list of its over 500 member credit unions and how they are helping consumers in a government shutdown. This includes forbearance and deferrals, low interest loans, and more.