Ask The Banker: Shutdown having little effect on banking industry

Banks are regulated by the federal government, but those divisions of the U.S. government remain open at this time.

Posted: Jan. 21, 2019 5:53 PM

EUGENE, Ore. -- With the partial federal government shutdown stretching into a full month, some are concerned it could affect their banking.

KEZI 9 News talked to Oregon Pacific Bank President and CEO Ron Green to learn more.

Could the government shutdown affect my bank?

The current government shutdown is having very little effect on the banking industry, Green said. Banks are regulated by the federal government, but those divisions of the U.S. government remain open at this time.

However, if you are a federal government employee and you have been furloughed or your income is being withheld, that could affect you and your ability to make payments to your bank.

Green recommended talking with your mortgage lender and your banker if you’re being affected by the shutdown. They will work with you and help you with this challenging time.

If you have a banking or finance question for Green, click here

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