Key Takeaways
- Financial Institutions Step Up for Americans: Banks and credit unions are waiving fees, modifying loans, and offering relief to military families and federal employees hit hardest by the shutdown.
- Economic Fallout Growing Fast: The Independent Community Bankers of America warned that local economies—the foundation of U.S. growth—are being damaged as the shutdown drags into its fifth week.
- White House Blames Democrats for Stalemate: The Trump administration says Senate Democrats are responsible for prolonging the shutdown and “holding Americans hostage,” urging passage of a clean continuing resolution.
America’s financial sector has had enough of Washington gridlock. As the government shutdown drags into its fifth week, leading banking and credit union associations are demanding Congress reopen the government before the fallout hits Main Street even harder.
The American Bankers Association said its members are offering short-term relief to military families, federal employees, and customers feeling the pinch through “fee waivers, loan modifications and other relief.” But even that, the group warned, can’t stop the bleeding. “We urge lawmakers to pass a clean continuing resolution and resolve their policy differences with the government open and functioning,” the association said.
America’s Credit Unions echoed the call, saying credit unions are stepping up with empathy and flexibility but stressed that “it’s time for Congress to pass the continuing resolution and re-open the government.”
The Independent Community Bankers of America (ICBA) added that the shutdown is undermining local economies — the backbone of American growth. “Timely action to end the current shutdown is imperative to ensure economic growth stays strong in local communities nationwide,” the ICBA said, urging lawmakers to “work together” to finish the budget process and get back to business.
Meanwhile, the White House isn’t backing down. Spokesperson Taylor Rogers told Fox News Digital that “the Democrat shutdown has sowed economic uncertainty for Main Street and unnecessary suffering for the American people.” Rogers added that “financial markets are flying blind without key government data impacting trillions in investment decisions.”
The message from business and government alike is clear: reopen the government, protect the economy, and stop using Americans as political leverage.