Sponsor
Mark Alford
Representative · R-MO
Representative · R-MO
Official title: To amend the Fair Credit Reporting Act to prohibit certain adverse information related to late or missed payments during a Government shutdown by a furloughed or unpaid Government employee from being included in consumer reports, and for other purposes.
Introduced July 22, 2026 by Mark Alford · Last progress July 22, 2026
The bill protects covered workers' credit records and eases short-term financial strain during shutdowns, but does so through largely non‑binding private relief that can be uneven and may shift costs, complexity, and credit‑risk consequences onto lenders and future borrowers.
Covered federal employees and other affected workers (including low-income individuals, middle-class families, and unemployed workers) will avoid adverse credit entries for late or missed payments during the covered shutdown period, helping preserve credit scores and access to credit.
Covered employees are encouraged to receive temporary forbearance and waivers of late fees and penalties during the covered period, reducing immediate out-of-pocket costs and short-term financial stress.
Consumers gain clearer and faster credit reporting rules because the CFPB is required to issue implementing rules within 30 days, speeding the availability of protections and guidance.
Relief is advisory for private lenders (non-binding), so many covered employees may receive uneven or no practical relief depending on individual lender policies.
Omitting shutdown-period delinquencies from credit histories can make credit files less informative, increasing underwriting complexity and credit risk for lenders and potentially leading to tighter terms or higher borrowing costs for some consumers.
If lenders grant forbearance or defer payments without clear terms, covered borrowers could face larger balances later because of accrued interest or deferred charges.
Based on analysis of 3 sections of legislative text.
Bars credit bureaus from reporting shutdown-related late or missed payments for furloughed or unpaid federal employees and treats those items as if paid for reporting purposes.
Prohibits consumer reporting agencies from reporting late payments or nonpayments that happened because federal employees were furloughed or required to work without pay during a lapse in appropriations; such items must be treated as if paid for credit-reporting purposes. The Consumer Financial Protection Bureau must issue implementing rules within 30 days. Also expresses Congress's non-binding view that private lenders should offer temporary forbearance or fee waivers and refrain from furnishing adverse information for affected federal employees during the covered shutdown period.