GUIDANCE Act of 2026
Summary
The GUIDANCE Act of 2026 (HR8777) is an early-stage bill referred to the House Financial Services Committee that would restore eight rescinded CFPB rules and guidance. It authorizes no spending and has no direct market impact at this stage.
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Key Takeaways
- 1.HR8777 is a procedural bill with no funding attached.
- 2.The bill has near-zero probability of passage in the current Congress.
- 3.No actionable market impact for retail investors at this stage.
Market Implications
No market implications. The bill is at the earliest procedural stage with no path to enactment. Investors in consumer finance stocks ($JPM, $BAC, $C, $WFC, $DFS, $SYF, $COF, $AXP) should not adjust positions based on this bill. Monitor actual CFPB rulemakings and enforcement actions for real regulatory signals.
Full Analysis
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On May 13, 2026, Rep. Maxine Waters (D-CA) introduced HR8777, the GUIDANCE Act, which was referred to the House Committee on Financial Services. The bill would nullify eight separate CFPB rule withdrawals published on May 12, 2025, thereby reinstating the original rules and circulars covering fair credit reporting preemption, data security, servicemember protections, medical debt collection, overdraft opt-in practices, whistleblower protections, lending discrimination, and truth-in-lending for home sales. The bill is in its earliest legislative stage with no committee hearings or markups scheduled.
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The bill authorizes zero dollars in federal spending. It is a regulatory restoration bill that operates by voiding prior agency actions. There is no funding mechanism, no grant program, and no procurement authorization. The Congressional Budget Office would likely score this as having no direct spending effect.
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Structural winners and losers: If enacted, the bill would increase compliance costs for consumer lenders, debt collectors, and financial institutions subject to CFPB oversight. However, at this early stage, the probability of passage in a Republican-controlled House is extremely low. The bill's sponsor is a senior Democrat but not committee leadership in the current Congress. No Republican co-sponsors are listed. The bill faces a near-zero chance of advancing through committee to a floor vote.
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No real market data is provided for stock price movements. The competitive landscape for consumer finance companies (banks, credit card issuers, debt collectors) would see increased regulatory burden if the bill were to pass, but that scenario is highly unlikely given the current political dynamics.
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Timeline: The bill must clear the House Financial Services Committee, pass the full House, then proceed to the Senate. Given the early stage, partisan sponsorship, and lack of companion legislation, no meaningful legislative action is expected in the 119th Congress.
Connected Signals
Matched on shared policy language across AI analyses, with ticker & timing weight
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Debt Collection Practices (Regulation F); Deceptive and Unfair Collection of Medical Debt".
PATCH Act
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Debt Collection Practices (Regulation F); Pay-to-Pay Fees".
Related Presidential Actions
Executive orders & memoranda affecting the same sectors or companies
Restoring Integrity to America’s Financial System
This executive order directs the Treasury Department to issue an advisory to financial institutions on risks from non-work authorized populations and their employers, propose regulatory changes to strengthen Bank Secrecy Act customer due diligence and identification requirements, and consider risks from foreign consular IDs. It also directs the CFPB to clarify that deportation risk can affect ability-to-repay assessments for non-work authorized borrowers, and federal financial regulators to issue guidance on credit risks from this population.
Integrating Financial Technology Innovation into Regulatory Frameworks
This executive order directs federal financial regulators to review and streamline regulations that hinder fintech innovation, particularly for small and emerging firms, and requests the Federal Reserve to evaluate expanding access to its payment accounts and services for non-bank and digital asset firms. It aims to reduce barriers to entry and encourage partnerships between fintech firms and traditional financial institutions, with specific deadlines for reviews and reports.
Imposing Sanctions on Those Responsible for Repression in Cuba and for Threats to United States National Security and Foreign Policy
This Executive Order expands the existing national emergency against the Government of Cuba by imposing broad secondary sanctions and asset freezes on foreign persons operating in key sectors of the Cuban economy (energy, defense, metals/mining, financial services, security). It authorizes the Treasury and State Departments to block property and deny entry to individuals and entities involved in repression, corruption, or support for the Cuban government, and empowers Treasury to sanction foreign financial institutions that facilitate transactions for designated persons. The order effectively tightens the U.S. embargo by targeting third-country companies and banks that do business with Cuba.