As millions of federal employees missed their first full paycheck due to the ongoing government shutdown this week, Indian American Congressman Suhas Subramanyam (VA-10) has commended several banks and credit unions for stepping up to help affected communities.

According to a statement from his office, these financial institutions have offered “interest-free loans, late fee waivers, and other forms of hardship assistance” — a vital lifeline for federal workers, contractors, military servicemembers, and small businesses struggling to stay afloat 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.”

Representing more than 36,000 federal employees and thousands of contractors in Virginia’s 10th Congressional District, Congressman Subramanyam has introduced and supported multiple bills designed to mitigate the economic toll of the shutdown. These include:

• The Shutdown Guidance for Financial Institutions Act: Encourages banks, credit unions, and other financial institutions to adopt best practices and work flexibly with individuals impacted by government shutdowns.
• The Emergency Relief for Federal Contractors Act: Allows affected federal contractors to withdraw from their retirement savings without incurring penalties.

Congressman Subramanyam’s office noted that he remains committed to backing any financial institution that provides support to federal workers, contractors, and small businesses during the shutdown, underscoring the Congressman’s call for continued relief until the government reopens. 

Related posts:

Virginia Rep. Suhas Subramanyam Defends Federal Workers, Warns of Security and Economic Risks from Job Cuts White House Blames Democrats as Federal Shutdown Enters Sixth Day, Warns of Delayed Paychecks for Workers and Troops Opinion: The Biggest Challenge for Democrats  Rep. Suhas Subramanyam Warns of “Constitutional Crisis” Amid Mass Federal Layoffs and Treasury Takeover