H.R. 4460

[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