Congressman Suhas Subramanyam Applauds Financial Institutions Supporting Federal Workers, Contractors, and Local Businesses

Washington, D.C.- This week, as millions of federal employees missed their first full paycheck due to the government shutdown, Congressman Suhas Subramanyam (VA-10) commended several banks and credit unions for their efforts to provide financial assistance to federal workers, contractors, military servicemembers, and small businesses during the shutdown. These financial institutions have provided interest-free loans, late fee waivers, and other forms of hardship assistance that have had a significant impact on federal workers and contractors and their families who are currently without pay.

"This shutdown is putting countless Virginians in financial distress, from federal workers and contractors struggling to pay rent and cover expenses to small businesses losing the traffic they need to stay afloat through no fault of their own," said Congressman Subramanyam."I commend every bank, credit union, and financial institution that understands how shutdowns impact our community and is offering relief when we need it the most. I urge them to continue these efforts for the duration of this shutdown."

Congressman Subramanyam represents over 36,000 federal workers and thousands more contractors. Since the shutdown began, Congressman Subramanyam has introduced and supported several pieces of legislation to support impacted federal workers, contractors, businesses, and families, including:

• The Shutdown Guidance for Financial Institutions Act: Provides and encourages best practices for banks, credit unions, and other financial institutions to work flexibly with people impacted by shutdowns.

• The Emergency Relief for Federal Contractors Act: Allows federal contractors affected by a government shutdown to withdraw funds from their retirement savings without being penalized.

He will continue to support any financial institution that seeks to provide assistance to federal workers, contractors, and small businesses during government shutdowns.

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