House Republicans Unveil SECURE Data Act and GUARD Financial Data Act for National Bank Data Privacy Standards
Summary
House Republicans on April 22, 2026, introduced two bills to establish national data privacy standards for the financial sector. The SECURE Data Act would create privacy and data security standards enforced by the FTC and state attorneys general, while exempting financial institutions covered by GLBA. The related GUARD Financial Data Act would modernize the 1999 Gramm-Leach-Bliley Act to account for technological advances and would preempt state laws in the financial activity space. The GUARD Act would require affirmative opt-in consent before disclosing sensitive personal information and allow customers to request access to and deletion of their financial data.
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What changed
Two House Republican bills were introduced to create a comprehensive national data privacy framework for banks. The SECURE Data Act would establish FTC-enforced national privacy standards, while exempting financial institutions and GLBA-covered data from its requirements. The GUARD Financial Data Act would update the Gramm-Leach-Bliley Act to require data minimization, customer access and deletion rights, and affirmative opt-in consent for sensitive information disclosures. The GUARD Act would preempt the current patchwork of state financial privacy laws.
Banks and other financial institutions should monitor the legislative progress of these bills, as the GUARD Act would significantly expand customer data rights under federal law and create a single national standard replacing state-level requirements. Financial institutions currently complying with GLBA should assess how the GUARD Act's opt-in consent and data minimization provisions would affect their existing data practices and disclosure policies.
Archived snapshot
Apr 23, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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House Republicans unveil data privacy bills
April 22, 2026 Reading Time: 1 min read House Republicans today unveiled two bills to establish national data privacy standards, including legislation to modernize the Gramm-Leach-Bliley Act, which is the federal law regulating how banks and other financial institutions safeguard customer data.
The SECURE Data Act would establish national privacy and data security standards enforced by the Federal Trade Commission and state attorneys general, according to a summary of the legislation. The legislation would exempt financial institutions and data covered by the GLBA, but a related bill – the GUARD Financial Data Act – would update the 1999 law to account for advances in technology. The GUARD Act also would preempt state laws in the financial activity space. These laws would work in concert to create a national privacy standard for banks to follow rather than the current state and federal patchwork.
The GUARD Act “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,” according to a joint statement by House Financial Services Committee Chairman French Hill (R-Ark.) and the other committee GOP leaders.
“This effort represents a significant step to strengthen consumer protections and ensure Americans have control over their financial data,” they added. “We look forward to continuing to work together as these measures progress through the legislative process.”
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