Impasse continues on federal government shutdown
Oct. 3, 2013 – President Obama and congressional leaders were unable to reach an agreement on how to end the federal government shutdown late Wednesday, leaving unchanged the furloughed status of all “nonessential” federal employees.
Credit unions that serve federal employees have put programs and services in place to help those furloughed; NAFCU has published a partial list of these here. Military servicemembers, Department of Defense civilian employees and contractors essential for the military’s support continue to receive pay under the Pay Our Military Act, enacted late Monday and reducing the number of credit union members likely to require assistance.
Most federal government operations – all except the independent agencies, such as NCUA, and other operations deemed “essential” – were closed down Tuesday due to the shutdown, which was triggered by a stalemate over Republican proposals to defund or delay parts of the Affordable Care Act, or Obamacare, in connection with a continuing resolution.
Federal agencies have posted information online explaining how their operations are affected by the current shutdown:
- The Financial Crimes Enforcement Network says its E-Filing, FinCEN Query (allowing authorized users to search FinCEN data) and section 314 programs will operate as usual. (For more on FinCEN and other functions with Treasury, see Treasury’s contingency plan during a lapse in appropriations.)
- At the Small Business Administration, processing for 7(a) and 504 loans is delayed, but the disaster loan program continues to operate (see SBA’s shutdown plan).
- At the Department of Housing and Urban Development, some Federal Housing Administration staff are excepted (essential workers) and will maintain limited operations; Ginnie Mae also maintains limited activities (see HUD’s shutdown plan).
NCUA not only remains open, but it is reminding credit unions to maintain a state of readiness to address members’ needs and questions; it refers credit unions to Letter to CUs 11-CU-05, “Planning and Preparedness for a Federal Government Shutdown,” which encourages credit unions to work with furloughed members dealing with a break in normal pay.
Credit Union Shutdown Assistance page
Treasury's contingency plan
SBA's shutdown plan
HUD's shutdown plan
NCUA Letter to CUs 11-CU-05
New York Times coverage