H.R. 4460House119th Congress (2025-2027)In Committee

SAFE Guidance Act

AI-Generated Summary

Updated November 23, 2025 at 11:27 PM UTC

The SAFE Guidance Act requires major financial regulators to label any guidance they issue with a clear disclaimer that the guidance is not legally binding. The disclaimer must be placed on the first page of the guidance and state that it does not create rights, obligations, or automatic violations for regulated entities. The rule applies to agencies such as the CFPB, HUD, Treasury, FDIC, FHFA, the Federal Reserve, NCUA, OCC, and SEC, and it only targets guidance—not formal rules or internal agency documents.

Key Provisions

The head of each listed financial agency must add a “guidance clarity statement” to any guidance they issue after the law takes effect.
The statement must appear prominently on the first page and say the guidance is not law, does not create rights or obligations, and non‑compliance does not automatically mean a legal violation.
The bill defines “financial agency” to include the CFPB, HUD, Treasury, FDIC, FHFA, Federal Reserve Board, NCUA, OCC, and SEC.
It defines “guidance” as agency communications that influence regulated parties but excludes formal rules, exempt rules, internal agency policies, adjudications, and internal legal advice.

Legislative Activity

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6 earlier actions

HouseCalendars Latest Action

Placed on the Union Calendar, Calendar No. 208.

September 8, 2025

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HouseIntro Referral

Introduced in House

July 16, 2025

HouseIntro Referral

Referred to the House Committee on Financial Services.

Financial Services Committee

July 16, 2025

HouseCommittee

Committee Consideration and Mark-up Session Held

Financial Services Committee

July 22, 2025

HouseCommittee

Committee Consideration and Mark-up Session Held

Financial Services Committee

July 23, 2025

HouseCommittee

Ordered to be Reported by the Yeas and Nays: 26 - 23.

Financial Services Committee

July 23, 2025

HouseCommittee

Reported by the Committee on Financial Services. H. Rept. 119-251.

Financial Services Committee

September 8, 2025

HouseCalendars

Placed on the Union Calendar, Calendar No. 208.

September 8, 2025

Bill Text

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Reported in HouseIssued September 8, 2025

Union Calendar No. 208

119th CONGRESS

1st Session

H. R. 4460

[Report No. 119–251]

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.

Short title

This Act may be cited as the Stop Agency Fiat Enforcement of Guidance Act or the SAFE Guidance Act.

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.

September 8, 2025

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed