We have received text from H.R. 4460: Stop Agency Fiat Enforcement of Guidance Act. This bill was received on 2025-07-16, and currently has no cosponsors.
Here is a short summary of the bill:
This bill, known as the "Stop Agency Fiat Enforcement of Guidance Act" or the "SAFE Guidance Act," aims to bring clarity to the guidance documents issued by various financial agencies in the United States. It requires that when a financial agency publishes guidance, it must include a specific statement that clarifies the nature and authority of that guidance.
Key Provisions
- Guidance Clarity Statement: Each financial agency must place a clarity statement prominently at the beginning of any guidance document issued after the bill becomes law. This statement informs readers that the guidance:
- Does not have the force and effect of law.
- Does not create legal rights or obligations for individuals or entities.
- Is not binding on the agency or the public.
- Noncompliance with guidance does not automatically equate to violating applicable laws.
- Definition of Financial Agencies: The bill specifies which agencies are considered 'financial agencies' for the purpose of this requirement. These include:
- The Bureau of Consumer Financial Protection.
- The Department of Housing and Urban Development.
- The Department of the Treasury.
- The Federal Deposit Insurance Corporation.
- The Federal Housing Finance Agency.
- The Board of Governors of the Federal Reserve System.
- The National Credit Union Administration.
- The Office of the Comptroller of the Currency.
- The Securities and Exchange Commission.
- Guidance Definition: The bill defines guidance as statements issued by these financial agencies that are intended to affect the behavior of regulated parties but are not legally binding rules.
The bill is designed to reduce the potential for confusion among regulated entities regarding the nature of agency guidance, by clearly stating its non-binding nature and the lack of legal force behind it.
Intent of the Legislation
The overall intent is to ensure that regulated entities understand their rights and obligations concerning guidance documents. By specifying that such guidance does not have the authority of law, the bill seeks to protect entities from unintended regulatory consequences stemming from misinterpretations of agency guidance.
Impact on Financial Agencies
If this bill passes, financial agencies will have to change how they present guidance and ensure compliance with the requirements set out in the legislation. This could involve additional administrative work to revise existing documents and create new clarity statements for future guidance.
Relevant Companies
- JPM - JPMorgan Chase & Co.: As a major financial institution that interacts directly with regulatory agencies, JPMorgan could be affected by changes to the clarity and interpretation of agency guidance.
- BAC - Bank of America Corp.: Similar to JPMorgan, Bank of America will need to adapt to the non-binding nature of guidance from financial regulators to mitigate compliance risks.
- GS - The Goldman Sachs Group, Inc.: Goldman Sachs may experience changes in operational protocol in dealing with regulatory guidance under this legislation.
- SVG - Affected companies in the Securities sector, including those under the oversight of the Securities and Exchange Commission, such as investment firms, will need to reassess their strategies regarding compliance with agency guidance.
Representative Daniel Meuser Bill Proposals
Here are some bills which have recently been proposed by Representative Daniel Meuser:
- H.R.4460: SAFE Guidance Act
- H.R.3645: ACCESS Act of 2025
- H.R.2513: CFPB–IG Reform Act of 2025
- H.R.2066: Investing in All of America Act of 2025
- H.R.1804: 7(a) Loan Agent Oversight Act
- H.R.1533: PIIA Reform Act
You can track bills proposed by Representative Daniel Meuser on Quiver Quantitative's politician page for Meuser.
Representative Daniel Meuser Net Worth
Quiver Quantitative estimates that Representative Daniel Meuser is worth $84.7M, as of July 19th, 2025. This is the 13th highest net worth in Congress, per our live estimates.
Meuser has approximately $5.7M invested in publicly traded assets which Quiver is able to track live.
You can track Representative Daniel Meuser's net worth on Quiver Quantitative's politician page for Meuser.
Representative Daniel Meuser Stock Trading
We have data on up to $4.7M of trades from Representative Daniel Meuser, which we parsed from STOCK Act filings. Some of the largest trades include:
- A May 31st, 2023 sale of up to $500K of $NVDA. The stock has risen 355.7% since then.
- A March 26th, 2020 purchase of up to $50K of $MSFT. The stock has risen 226.72% since then.
- A March 26th, 2020 purchase of up to $50K of $V. The stock has risen 106.69% since then.
- A March 26th, 2020 purchase of up to $50K of $DIS. The stock has risen 15.24% since then.
- A April 2nd, 2020 sale of up to $15K of $BP. The stock has risen 22.9% since then.
You can track Representative Daniel Meuser's stock trading on Quiver Quantitative's politician page for Meuser.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
