[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4460 Reported in House (RH)]
<DOC>
Union Calendar No. 208
119th CONGRESS
1st Session
H. R. 4460
[Report No. 119-251]
To require a guidance clarity statement on certain financial agency
guidance, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 16, 2025
Mr. Meuser introduced the following bill; which was referred to the
Committee on Financial Services
September 8, 2025
Committed to the Committee of the Whole House on the State of the Union
and ordered to be printed
_______________________________________________________________________
A BILL
To require a guidance clarity statement on certain financial agency
guidance, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Stop Agency Fiat Enforcement of
Guidance Act'' or the ``SAFE Guidance Act''.
SEC. 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.
Union Calendar No. 208
119th CONGRESS
1st Session
H. R. 4460
[Report No. 119-251]
_______________________________________________________________________
A BILL
To require a guidance clarity statement on certain financial agency
guidance, and for other purposes.
_______________________________________________________________________
September 8, 2025
Committed to the Committee of the Whole House on the State of the Union
and ordered to be printed