WeVote
Log In

Bill

SE

Bill

HR 5953

Protect Military and Federal Employees from Unfair Bank Fees Act

119th Congress Introduced by Sarah Elfreth and 1 co-sponsor

HR 5953 protects consumers from certain fees by card issuers during federal funding lapses, ensuring financial relief during government shutdowns.

Introduced in House
0
WeVote Research Nonpartisan
Bill Summary · HR 5953

Summary of HR 5953

Bill Number: HR 5953
Title: To prohibit card issuers and financial institutions from imposing certain fees on covered persons during any period during which appropriations are not in effect for the operations of one or more Federal agencies, and for other purposes.
Status: Introduced in House
Introduced Date: November 07, 2025
Classification: Bill

Purpose and Intent

The primary aim of HR 5953 is to protect consumers, specifically those identified as "covered persons," from incurring certain fees imposed by card issuers and financial institutions during periods when federal agency appropriations are not in effect. This legislation seeks to mitigate the financial burden on individuals who may be affected by government shutdowns or lapses in funding, ensuring that they are not penalized with additional fees during such times.

Key Provisions

  • Fee Prohibition: The bill explicitly prohibits card issuers and financial institutions from charging specific fees to covered persons during periods of federal agency funding lapses.
  • Definition of Covered Persons: While the bill does not provide a detailed definition in the summary, "covered persons" typically refers to individuals who have financial accounts or credit cards with the institutions affected by this legislation.
  • Scope of Fees: The bill aims to address various types of fees that may be imposed, although the exact nature of these fees would need to be clarified in subsequent legislative discussions or regulations.

Impact

  • Affected Parties: The legislation would primarily impact consumers who hold credit cards or bank accounts with financial institutions. It would also affect card issuers and banks, which would need to adjust their fee structures in compliance with the new law.
  • Financial Relief: By prohibiting these fees during government shutdowns, the bill aims to provide financial relief to consumers who may already be facing economic uncertainty due to the lack of government operations.

Procedural Aspects

  • Legislative Timeline:
    • The bill was introduced and referred to the House Committee on Financial Services on November 07, 2025.
    • As of the introduction date, no further legislative actions or discussions have been recorded.

Conclusion

HR 5953 represents a legislative effort to safeguard consumers from unexpected financial penalties during periods of federal funding interruptions. By addressing the imposition of fees by financial institutions, the bill seeks to enhance consumer protection and promote financial stability for affected individuals. Further discussions and potential amendments may clarify the specifics of the fees covered and the definition of "covered persons."

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.