1. Short title This Act may be cited as the Interagency Pandemic Guidance for Consumers Act . 2. Interagency pandemic guidance (a) Guidance Not later than the end of the 60-day period beginning on the date of enactment of this Act, the Federal financial regulators shall issue interagency regulatory guidance on preparedness, flexibility, and relief options for consumers in pandemics and major disasters, such as deferment, forbearance, affordable payment plan options, and other options such as delays on debt collections and wage garnishments. (b) Updates The Federal financial regulators shall update the guidance required under subsection (a) as necessary to keep such guidance current. 3. Pandemic preparedness testing (a) In general Not later than the end of the 2-year period beginning on the date of enactment of this Act, and every 5 years thereafter, the Federal financial regulators shall carry out testing along with the institutions regulated by the Federal financial regulators to determine how effectively such institutions will be able to respond to a pandemic or major disaster. (b) Report After the end of each test required under subsection (a), the Federal financial regulators shall, jointly, issue a report to Congress containing the results of such test and any regulatory or legislative recommendations the regulators may have to increase pandemic preparedness. 4. Definitions In this Act: (1) Federal financial regulators The term Federal financial regulators means the Board of Governors of the Federal Reserve System, the Bureau of Consumer Financial Protection, the Comptroller of the Currency, the Director of the Federal Housing Finance Agency, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Secretary of Agriculture, and the Secretary of Housing and Urban Development. (2) Major disaster The term major disaster means a major disaster declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5170 ),