To prohibit card issuers and financial institutions from imposing certain fees on covered persons during any period during which appropriations are not in effect for the operations of one or more Federal agencies, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
Prohibits banks and credit-card issuers from charging certain overdraft or late-payment fees to furloughed or unpaid federal workers during a federal funding lapse.
Who Benefits and How
Covered federal workers could avoid overdraft and late-payment fees during government shutdown periods.
Who Bears the Burden and How
Financial institutions and card issuers would lose fee revenue tied to shutdown-related missed payments or low balances.
Key Provisions
- Bars financial institutions from charging insufficient-funds fees on covered accounts during a covered shutdown period.
- Bars card issuers from charging late fees when a payment comes due during that period.
- Defines covered people to include furloughed and unpaid excepted federal workers and service members.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers.
At a Glance
What This Bill Does
Prohibits banks and credit-card issuers from charging certain overdraft or late-payment fees to furloughed or unpaid federal workers during a federal funding lapse.
Key Policy Areas
Financial Services, Government Operations, Labor
Primary Purpose
Prohibits banks and credit-card issuers from charging certain overdraft or late-payment fees to furloughed or unpaid federal workers during a federal funding lapse.
Policy Domains
Main Provisions
Identified Gains
Contextual inference, no direct clause citation- Covered federal workers and service members affected by shutdowns
Contextual inference, no direct clause citation
Identified Costs
Contextual inference, no direct clause citation- Banks and credit-card issuers barred from charging shutdown-related fees
Contextual inference, no direct clause citation
Sponsors
Legislative Progress
IntroducedMs. Jacobs (for herself, Ms. Elfreth, and Mr. Walkinshaw) introduced …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Federal workers and service members affected by lapses in appropriations
Banks and credit-card issuers that would otherwise collect the fees
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology