Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act
The source supplies the latest action, but no lifecycle stage.
Latest action (21 Apr 2026): Referred to the House Committee on Financial Services.
What this bill does
This bill, titled the "Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act," or "GUARD Financial Data Act," would amend existing federal law regarding consumer financial data privacy. It aims to enhance consumer protections by implementing requirements for financial institutions on how they collect, use, and share personal financial information.
Specifically, the bill proposes measures such as limiting the amount of data financial institutions collect to what is necessary, giving consumers a continued right to opt out of certain data disclosures, and establishing new rules for how companies can use consumer account access credentials. It also includes provisions for consumers to request access to or deletion of their personal financial data and requires an "opt-in" consent for the collection or sharing of sensitive financial information. Additionally, the bill includes provisions for regulatory consideration for small financial institutions and clarifies the relationship between federal and state data privacy laws.
This bill was introduced in the House of Representatives by Representative Bill Huizenga. It has been referred to the Committee on Financial Services. The bill's status is "Introduced," meaning it has not yet passed either chamber of Congress or been signed into law.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
21 Apr 2026
Referred to the House Committee on Financial Services.
Common questions
- What does H.R. 8398 do?
- This bill, titled the "Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act," or "GUARD Financial Data Act," would amend existing federal law regarding consumer financial data privacy. It aims to enhance consumer protections by implementing requirements for financial institutions on how they collect, use, and share personal financial information. Specifically, the bill proposes measures such as limiting the amount of data financial institutions collect to what is necessary, giving consumers a continued right to opt out of certain data disclosures, and establishing new rules for how companies can use consumer account access credentials. It also includes provisions for consumers to request access to or deletion of their personal financial data and requires an "opt-in" consent for the collection or sharing of sensitive financial information. Additionally, the bill includes provisions for regulatory consideration for small financial institutions and clarifies the relationship between federal and state data privacy laws. This bill was introduced in the House of Representatives by Representative Bill Huizenga. It has been referred to the Committee on Financial Services. The bill's status is "Introduced," meaning it has not yet passed either chamber of Congress or been signed into law.
- Has H.R. 8398 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 8398. Check the latest action and official source below.
- Who sponsored H.R. 8398?
- H.R. 8398 was sponsored by Rep. Huizenga, Bill [R-MI-4] (R-MI), with 6 cosponsors.
- What's the latest action on H.R. 8398?
- Referred to the House Committee on Financial Services. (21 Apr 2026).
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