Oregon Financial Regulator Encourages Financial Services Providers to Actively Assist Federal Workers During Shutdown

The Oregon Department of Consumer and Business Services Division of Financial Regulation recently issued a bulletin that “encourages Oregon state-regulated financial institutions and entities providing financial products and services to take active measures to help individuals affected by the federal government shutdown.”

The bulletin suggests that the following regulated entities, among others, take the following actions.

Collection Agencies and Debt Buyers:

• Taking steps to accommodate debtors experiencing hardships related to the shutdown, such as reduced income, reduced hours or lost employment.
• Offering payment accommodations for affected debtors, such as allowing a debtor to defer payments, extending payment due dates, or otherwise adjusting terms of existing payment plans.
• Waiving late payment, online payment or nonsufficient funds fees for affected debtors.
• Temporarily suspending collection activities for all accounts of affected debtors experiencing significant financial hardship.
• Providing clear communication and proactive customer service for Oregon residents affected by the shutdown, including but not limited to providing information about options and flexibilities via all appropriate communications channels, and providing appropriate resources to customer service staff to provide informed assistance.

Depository Institutions:

• Waiving overdraft and nonsufficient funds fees for affected Oregon residents.

Mortgages:

• Forbearing mortgage payments for affected Oregon residents, extending forbearance as needed to provide reasonable accommodation depending on the duration of the shutdown.
• Offering affected mortgagors grace periods to complete trial loan modifications, and ensuring late payments during the shutdown do not affect their ability to obtain permanent loan modifications.
• Postponing foreclosures and evictions for affected Oregon residents, extending postponement as needed to provide reasonable accommodation depending on the duration of the shutdown.

Mortgages and Other Loans:

• Offering payment accommodations to affected Oregon residents, such as allowing borrowers to defer payments, extending payment due dates, or otherwise adjusting terms of existing loans to enable affected borrowers to avoid delinquencies and negative credit agency reporting.
• Easing credit terms for new loans for affected Oregon residents.
• Refraining from reporting late payments to credit rating agencies for affected Oregon residents.
• Waiving late payment fees and any online payment fees for affected Oregon residents.
• Providing clear communication and proactive customer service for Oregon residents affected by the shutdown, including but not limited to providing information about options and flexibilities via all appropriate communication channels including websites and apps, and providing appropriate resources to customer service staff to provide informed assistance.

The bulletin became effective on October 20, 2025.  The bulletin does not, however, appear to impose any legal obligation.