H.R. 4460

119 HR 4460 IH: Stop Agency Fiat Enforcement of Guidance Act
 U.S. House of Representatives
 2025-07-16
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 I  119th CONGRESS  1st Session  H. R. 4460  IN THE HOUSE OF REPRESENTATIVES   July 16, 2025   Mr. Meuser  introduced the following bill; which was referred to the  Committee on Financial Services    A BILL
To require a guidance clarity statement on certain financial agency guidance, and for other purposes.
1.
Short title
This Act may be cited as the   Stop Agency Fiat Enforcement of Guidance Act   or the   SAFE Guidance Act  .
2.
Guidance clarity statement required
(a)
In general
The head of each financial agency shall include a guidance clarity statement as described in subsection (b) on any guidance issued by that financial agency on and after the date of the enactment of this Act.
(b)
Guidance clarity statement
A guidance clarity statement required under subsection (a) shall be displayed prominently on the first page of the document and shall include the following:  This guidance does not have the force and effect of law and therefore does not establish any rights or obligations for any person and is not binding on the agency or the public. If this guidance suggests how regulated entities may comply with applicable statutes or regulations, noncompliance with this guidance does not conclusively establish a violation of applicable law. .
(c)
Definitions
In this section:
(1)
Financial agency
The term  financial agency  means the following:
(A)
The Bureau of Consumer Financial Protection.
(B)
The Department of Housing and Urban Development.
(C)
The Department of the Treasury.
(D)
The Federal Deposit Insurance Corporation.
(E)
The Federal Housing Finance Agency.
(F)
The Board of Governors of the Federal Reserve System.
(G)
The National Credit Union Administration.
(H)
The Office of the Comptroller of the Currency.
(I)
The Securities and Exchange Commission.
(2)
Guidance
The term  guidance  means a financial agency statement of general applicability, intended to have a future effect on the behavior of regulated parties, that sets forth a policy on a statutory, regulatory, or technical issue, or an interpretation of a statute or regulation, but does not include—
(A)
a rule promulgated pursuant to notice and comment under section 553 of title 5, United States Code;
(B)
a rule exempt from rulemaking requirements under section 553(a) of title 5, United States Code;
(C)
a rule of financial agency organization, procedure, or practice;
(D)
a decision of a financial agency adjudication under section 554 of title 5, United States Code, or any similar statutory provision;
(E)
internal guidance directed to the issuing financial agency or other agency that is not intended to have a substantial future effect on the behavior of regulated parties; or
(F)
internal executive branch legal advice or legal opinions addressed to executive branch officials.