Government shutdown

Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention.

As the government shutdown stalls key housing programs, lenders are shifting tactics to keep loans moving and preparing for bigger challenges ahead.

Department officials pushed back on criticism that a banner on its homepage violated a statute meant to curb partisanship in government operations.

The shutdown started with a flight into treasury bonds, putting downward pressure on financing costs, but several other developments slowed mortgage activity.

The stopgap funding bill paves the way for Republican lawmakers to pivot to signature border and tax bills they seek to pass in the coming months.

Frequent federal budget impasses increase insurance concerns and threaten to jack up financing costs that are already straining lenders.

The National Credit Union Administration will meet this week to discuss its proposed budget while the Senate and House work to avoid a government shutdown.

The House Financial Services Committee passed a bill that would exclude adverse credit information for consumers impacted by a government shutdown.

Lending at credit unions in the Peach State increased by just 0.2%, down from 0.8% growth recorded a quarter earlier.

Events like the recent government shutdown present opportunities for banks to help customers when they need it most.