# 119-hr-8398: Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act 119-hr-8398, Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act, is a 119th Congress bill sponsored by Rep. Huizenga, Bill [R-MI-4] (R-MI); status introduced; PRIA reads it as touching household money (as of 2026-09-21). - Canonical: https://policyrisk.com/legislation/119-hr-8398 - As of: 2026-09-21 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: 119-hr-8398 - Congress: 119 - Title: Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act - Status: introduced - Introduced: 2026-04-21 - Sponsor: Rep. Huizenga, Bill [R-MI-4] (R-MI) - Cosponsors: 6 - Policy area: Finance and Financial Sector - Touches household money: yes - Last recorded action: 2026-09-21 ## Summary **Consumer control over nonpublic personal information**. The GUARD Financial Data Act would tighten what financial firms can collect and share and give customers stronger notice, opt‑out, opt‑in, disclosure, and deletion rights. - Families and consumers gain the right to request disclosures of their nonpublic personal information and to request deletion if they are former customers. Institutions must verify identity, respond in 45 days with one 45‑day extension, and former customers get two free requests per year. - The bill creates an opt‑in rule for "sensitive" nonpublic information. Sensitive data includes race, religion, health, sexual orientation, citizenship status, genetic or biometric identifiers, and precise geolocation. - Financial institutions would face a data minimization standard that limits collection and sharing to what is adequate, relevant, and reasonably necessary for each purpose. That rule is set to take effect two years after enactment and agencies must update model disclosure forms with a two‑year safe harbor for compliance. - Financial data aggregators and other unaffiliated third parties must provide a pre‑collection notice and opt‑out before using consumers' access credentials and must meet Consumer Financial Protection Bureau Section 1033 standards. Firms cannot deny a disclosure request just because a consumer already received disclosures. - Regulators must consider impacts on small institutions with $15.0 billion or less in assets and account for resource and technical limits; the threshold will adjust every five years based on GDP starting April 1, 2031. - The subtitle would preempt state consumer privacy laws for covered nonpublic information while preserving state insurance authorities' ability to enforce the subtitle in a way consistent with federal law. ## Cosponsors (6) - Rep. Barr, Andy [R-KY-6] (R-KY), 2026-04-21T00:00:00.000Z - Rep. Steil, Bryan [R-WI-1] (R-WI), 2026-04-21T00:00:00.000Z - Rep. Hill, J. French [R-AR-2] (R-AR), 2026-04-21T00:00:00.000Z - Rep. Meuser, Daniel [R-PA-9] (R-PA), 2026-04-27T00:00:00.000Z - Rep. Haridopolos, Mike [R-FL-8] (R-FL), 2026-05-12T00:00:00.000Z - Rep. Lawler, Michael [R-NY-17] (R-NY), 2026-05-12T00:00:00.000Z ## Provisions PRIA read - Clear opt-in for sensitive data: benefit, medium. If enacted, the bill would require banks and similar firms to get your clear consent before collecting or sharing sensitive financial data. Firms would have to tell you before the first collection or disclosure and explain how to revoke consent. You could revoke consent at any time. Some statutory… - Right to see and delete bank data: benefit, medium. If enacted, customers and former customers would be able to request disclosure of nonpublic financial data and a list of categories of parties that received it. Former customers could request deletion, but banks could keep data in limited cases (for ongoing permitted uses, FCRA needs, disputes, or… - What personal data is covered: benefit, medium. If enacted, the bill would expand what counts as nonpublic personal information. It would explicitly include access credentials (usernames, passwords, PINs), certain biometric data, and precise geolocation (within about 1,750 feet) in covered financial uses. It would also define ‘‘sensitive’’ data… - Higher small-bank threshold for rules: benefit, medium. If enacted, agencies would be required to consider the effects of regulations on institutions with $15 billion or less in assets. Starting April 1, 2031, and every five years after, the $15 billion threshold would be raised if U.S. GDP has grown, using a GDP ratio to adjust the threshold. This is m… - Banks must limit data collection: benefit, low. If enacted, financial institutions would have to collect and share only the nonpublic personal information that is adequate, relevant, and reasonably necessary for each purpose. The rule would take effect two years after enactment. Exceptions would still allow disclosures required by law, credit re… - Easier opt-outs and clearer notices: benefit, low. If enacted, the bill would let you opt out of certain data sharing at any time after the first disclosure. It would let firms give the opt-out explanation before first disclosure but require it to remain accessible later. Notices would also have to say why data is collected, how long it is kept, wh… - New rules for account access apps: benefit, low. If enacted, third-party data aggregators and apps would have to give a clear notice before they collect your account access credentials. The notice would say how credentials will be used, whether they will be shared, and the privacy and security risks. You would be able to tell them not to use your… - Federal rules override state privacy: mixed, medium. If enacted, the bill would preempt state laws on consumer data privacy and security for the nonpublic information covered by this subtitle. It would preserve state insurance regulators' power to enforce the federal rules and to issue comparable regulations that are not more restrictive than federal… ## Related bills - 119-hr-6955: Main Street Capital Access Act - 119-hr-6644: 21st Century ROAD to Housing Act - 119-hr-833: Educational Choice for Children Act of 2025 - 119-hr-3151: SHIPS for America Act of 2025 - 119-hr-10184: Consumer Financial Protection Accountability and Reform Act of 2026 - 119-hr-1422: Enhanced Iran Sanctions Act of 2025 ## Sources - [119-hr-8398 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/8398) ## Related - [119-hr-6955: Main Street Capital Access Act](https://policyrisk.com/legislation/119-hr-6955) - [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644) - [119-hr-833: Educational Choice for Children Act of 2025](https://policyrisk.com/legislation/119-hr-833) - [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151) - [119-hr-10184: Consumer Financial Protection Accountability and Reform Act of 2026](https://policyrisk.com/legislation/119-hr-10184) - [119-hr-1422: Enhanced Iran Sanctions Act of 2025](https://policyrisk.com/legislation/119-hr-1422) - [All bills in Congress](https://policyrisk.com/legislation) Source: PRIA, https://policyrisk.com/legislation/119-hr-8398 (as of 2026-09-21).