GUIDANCE Act of 2026

This provision reinstates the CFPB's rule clarifying that the Fair Credit Reporting Act (FCRA) provides only limited preemption of state laws. This means states retain significant authority to enact and enforce their own consumer protection laws related to credit reporting, potentially offering stronger protections than federal law in certain areas.

This provision reinstates CFPB guidance that financial institutions can be held liable for unfair acts or practices if they fail to adequately protect sensitive consumer information. It emphasizes that insufficient data security measures can constitute an unfair practice under the Consumer Financial Protection Act (CFPA), holding companies accountable for data breaches.

This provision reinstates CFPB guidance directing examiners to specifically look for risks and potential violations of consumer financial protection laws that disproportionately affect active-duty servicemembers and their dependents. This ensures a focused regulatory scrutiny on financial products and services marketed to military families, who are often targets of predatory practices.

This provision reinstates the CFPB's rule addressing deceptive and unfair practices in the collection of medical debt. The original rule aimed to protect consumers from aggressive or misleading tactics by debt collectors regarding medical bills, which are often complex and confusing, and to ensure fair treatment in the debt collection process.

This provision reinstates CFPB guidance regarding improper overdraft opt-in practices. The original guidance aimed to ensure that consumers' consent to overdraft services is truly voluntary and informed, preventing financial institutions from using deceptive or coercive tactics to enroll customers in costly overdraft programs.

This provision reinstates CFPB guidance clarifying whistleblower protections under Section 1057 of the Consumer Financial Protection Act (CFPA). The original guidance aimed to encourage individuals to report violations of consumer financial laws without fear of retaliation, thereby strengthening the CFPB's ability to detect and address misconduct in the financial industry.

This provision reinstates CFPB Bulletin 2012-04, which provided guidance on lending discrimination. The bulletin clarified that disparate impact theory applies to fair lending laws, meaning practices that have a discriminatory effect, even without discriminatory intent, can be illegal. This aims to ensure equitable access to credit for all consumers, regardless of protected characteristics.

This provision reinstates the CFPB's rule extending consumer protections, similar to those for traditional mortgages, to home sales financed under contracts for deed. These contracts, often used for vulnerable buyers, typically lack the safeguards of traditional mortgages. The rule aimed to provide greater transparency and fairness in these transactions.

This provision reinstates the CFPB's rule applying the 'ability-to-repay' requirement to certain situations involving successors-in-interest for mortgages. This ensures that individuals who inherit or otherwise become responsible for a mortgage (e.g., after a death or divorce) are assessed for their ability to afford the payments before being subjected to foreclosure, providing a critical safeguard.

This provision reinstates the CFPB's rule under Regulation B (Equal Credit Opportunity Act) concerning revocations or unfavorable changes to the terms of existing credit arrangements. The rule aimed to prevent discriminatory practices when creditors modify or terminate existing credit lines, ensuring fair treatment for all consumers.

This provision reinstates the CFPB's rule clarifying the permissible purposes for furnishing, using, and obtaining consumer reports under the Fair Credit Reporting Act (FCRA). The original rule aimed to ensure that sensitive consumer credit information is only accessed and used for legitimate purposes, protecting consumer privacy and preventing misuse of data.

This provision reinstates CFPB Bulletin 2015-07, which provided guidance on in-person collection of consumer debt. The bulletin aimed to prevent abusive, deceptive, or unfair practices by debt collectors during in-person interactions, ensuring consumers are treated fairly and are not subjected to harassment or intimidation.

This provision reinstates CFPB Bulletin 2022-01, which clarified medical debt collection and consumer reporting requirements in connection with the No Surprises Act. The bulletin aimed to prevent consumers from being unfairly pursued for medical debts that are subject to the No Surprises Act, ensuring that billing disputes are resolved before debt collection or reporting to credit bureaus occurs.

This provision reinstates CFPB Bulletin 2022-06, which addressed unfair returned deposited item fee assessment practices. The bulletin clarified that charging fees to consumers when a check they deposited bounces (a 'returned deposited item' fee) can be an unfair practice, especially if the bank has already been compensated by the originating bank. This aims to protect consumers from excessive or unjustified fees.

This provision reinstates CFPB Circular 2023-02, which provided guidance on the practice of reopening deposit accounts that consumers had previously closed. The guidance aimed to prevent banks from reactivating closed accounts without explicit consumer consent, which can lead to unexpected fees or liabilities for consumers.

This provision reinstates CFPB Circular 2024-02, which provided guidance on deceptive marketing practices related to the speed or cost of sending remittance transfers (money sent internationally). The guidance aimed to ensure that consumers receive accurate and transparent information about how quickly and at what cost their money will reach its destination, preventing misleading advertising.

This provision reinstates the CFPB's rule on Fair Credit Reporting regarding name-only matching procedures. The original rule aimed to reduce instances where consumers' credit reports are inaccurately merged or confused with others due to similar names, ensuring greater accuracy in credit reporting and preventing harm from mistaken identity.

This provision reinstates the CFPB's Statement of Policy regarding the prohibition on abusive acts or practices. This policy statement clarifies the CFPB's interpretation of what constitutes an 'abusive' practice under the CFPA, providing guidance to financial institutions on avoiding practices that take unreasonable advantage of consumers' lack of understanding, inability to protect themselves, or reliance on the institution.

This provision reinstates CFPB Circular 2022-07, which provided guidance on the reasonable investigation of consumer reporting disputes. The guidance clarified that credit reporting agencies and furnishers of information must conduct thorough and meaningful investigations into consumer disputes, ensuring that errors on credit reports are accurately and promptly corrected.

This provision reinstates CFPB Bulletin 2023-01, which addressed unfair billing and collection practices for student loan debts discharged in bankruptcy. The bulletin aimed to protect consumers from being pursued for student loan debts that have been legally discharged, clarifying that attempting to collect such debts can be an unfair, deceptive, or abusive practice.

This provision reinstates CFPB Circular 2023-01, which provided guidance on unlawful negative option marketing practices. The guidance aimed to protect consumers from being enrolled in subscription services or recurring charges without their clear and affirmative consent, clarifying that such practices can be unfair, deceptive, or abusive.

This provision reinstates the CFPB's rule on Fair Credit Reporting regarding file disclosure. The original rule aimed to ensure consumers have clear and easy access to all information in their credit files, empowering them to review for accuracy and understand the data used in credit decisions.

This provision reinstates CFPB Circular 2024-03, which provided guidance on unlawful and unenforceable contract terms and conditions. The guidance clarified that certain contract clauses, such as those that waive consumer rights or limit liability in ways prohibited by law, can be deemed unfair, deceptive, or abusive practices, even if they are not explicitly illegal.