I 
119TH CONGRESS 
1ST SESSION H. R. 4460 
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 
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 Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Stop Agency Fiat En-
forcement 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 
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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 applica-
ble statutes or regulations, noncompliance with this guid-
ance does not conclusively establish a violation of applica-
ble 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 Cor-
poration. 
(E) The Federal Housing Finance Agency. 
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(F) The Board of Governors of the Federal 
Reserve System. 
(G) The National Credit Union Adminis-
tration. 
(H) The Office of the Comptroller of the 
Currency. 
(I) The Securities and Exchange Commis-
sion. 
(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 statu-
tory, regulatory, or technical issue, or an interpreta-
tion of a statute or regulation, but does not in-
clude— 
(A) a rule promulgated pursuant to notice 
and comment under section 553 of title 5, 
United States Code; 
(B) a rule exempt from rulemaking re-
quirements under section 553(a) of title 5, 
United States Code; 
(C) a rule of financial agency organization, 
procedure, or practice; 
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(D) a decision of a financial agency adju-
dication 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. 
Æ 
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