our bill minimizes data collection and disclosures; allows customers and former customers to request access to their financial data held by a financial institution; allows former customers of a financial institution to request deletion of their data; and requires a financial institution to receive a consumer’s affirmative opt-in consent before sensitive personal information can be disclosed.
Advance the GUARD Financial Data Act to modernize financial data privacy rules and give consumers greater control over their financial data.
Occurrences
H.R. 425, the Repealing Big Brother Overreach Act, sponsored by Rep. Davidson, passed 26-25. This bill rolls back excessive federal data collection and reporting requirements to protect Americans’ financial privacy and reduce government overreach.
Evidence
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The House Financial Services Committee and House Energy & Commerce Committee announced a joint effort to advance the GUARD Financial Data Act and the SECURE Data Act, saying the bills would give Americans more control over their personal data and improve consumer choice. The release says the GUARD Financial Data Act would modernize the GLBA and that the committees “look forward to working with our colleagues to build support for this bill and advance data privacy protections.”
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The committee posted a section-by-section summary of the GUARD Financial Data Act detailing provisions such as data minimization, continuing consumer opt-out rights, and limits on use of consumer access credentials, indicating active legislative development of the proposal.
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The posted bill text states that the measure may be cited as the “Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act” or the “GUARD Financial Data Act” and shows it was introduced in the House on April 21, 2026.
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The committee’s May 2026 activity page shows a markup on May 13, 2026, but the listed measures include other bills; the GUARD Financial Data Act is not among the measures marked up on that date.
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The committee's June 12 latest-news page lists recent June activity items, and a site search on the page found no matching text for 'GUARD'.
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The committee's markup calendar shows upcoming June 30 and July 1 'Markup of Various Measures' entries, and a site search on the page found no matching text for 'GUARD' or the bill title.
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GovInfo lists H.R. 8398, the Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act, with the last action date of April 21, 2026: introduced in the House and referred to the Committee on Financial Services.
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The official Financial Institutions issue page, crawled during this refresh, lists later committee items dated July 22 and July 1, 2026, followed by the April 22, 2026 data-privacy release announcing the joint effort to advance the GUARD Financial Data Act; it shows no newer GUARD markup or passage item in the visible official list.
Assessments
The promise was framed as advancing the GUARD Financial Data Act, not securing enactment. During Waters' current federal House term, H.R. 8398, the GUARD Financial Data Act, was introduced on April 21, 2026 and referred to the House Financial Services Committee, and the committee publicly announced a joint effort to advance it as a data privacy bill giving consumers more control over financial data. There is no evidence of enactment or markup, and Waters was not listed as sponsor or cosponsor, so candidate-specific credit is not especially strong; however, the promised action was the narrower act of advancing the proposal, which occurred in the same term through her committee context.
The promise was to advance the GUARD Financial Data Act, not necessarily to enact it. The evidence shows the bill was formally introduced on April 21, 2026, accompanied by bill text and a section-by-section summary, and House committees publicly announced a joint effort to build support and advance it. Later evidence does not show markup or further movement, so the bill had not fully cleared committee or passed, but the promised outcome of moving the proposal forward was met within the same term.
The available evidence shows the GUARD Financial Data Act was formally introduced in the House in April 2026 and publicly advanced by the relevant House committees, with bill text and a section-by-section summary released. That demonstrates meaningful legislative advancement toward the promised goal. However, there is no evidence in the record that the bill was marked up, voted out of committee, passed Congress, or became law by the end of the lookback window. Because the promise was to advance the act, not necessarily enact it, introduction and official committee promotion support some credit, but the absence of further concrete movement means it was not fully delivered.