3.0.0 3153 2023-01-11T13:33:16Z 2023-01-11T13:33:16Z Senate S 2016-07-11 114 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2016-07-11T21:08:09Z TAILOR Act of 2015 114 2896 HR 2016-12-12 Placed on the Union Calendar, Calendar No. 680. Related bill CRS 2016-07-11 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2016-07-11 Introduced in Senate IntroReferral 10000 9 Library of Congress R000605 Sen. Rounds, Mike [R-SD] Mike Rounds R SD N G000562 Sen. Gardner, Cory [R-CO] Cory Gardner R CO 2016-09-08 False B001236 Sen. Boozman, John [R-AR] John Boozman R AR 2016-09-27 False Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Congressional oversight Consumer Financial Protection Bureau Department of the Treasury Federal Deposit Insurance Corporation (FDIC) Federal Reserve System National Credit Union Administration Finance and Financial Sector 00 2016-07-11 Introduced in Senate 2016-12-27T21:10:34Z Taking Account of Institutions with Low Operation Risk Act of 2016 or the TAILOR Act of 2016

This bill requires the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Consumer Financial Protection Bureau, for any rule, regulation, or guidance, to: (1) consider the risk profile and business models of individual financial institutions and those of similar type that are subject to the regulatory action; and (2) tailor the action so that it limits the regulatory impact on an individual or type of institution as is appropriate for the risk profile and business model involved.

In carrying out such requirements, each such agency shall consider:

  • whether it is necessary to apply such regulatory action to accomplish policy objectives;
  • the impact of such action on the ability of such institutions to flexibly serve their customers and local markets;
  • the aggregate impact of all applicable regulatory actions on such ability;
  • the potential impact of implementing the action upon efforts to tailor it; and
  • the statutory provision authorizing the action, the congressional intent of such provision, and the policy objectives sought by the agency in implementing it.

The bill requires: (1) each such agency to report on the specific actions taken to tailor its regulatory actions pursuant to this bill, and (2) the Federal Financial Institutions Examination Council to report on the extent to which each such agency differs in the treatment of similarly situated institutions.

Each agency shall: (1) conduct a review of all final regulations issued pursuant to statutes enacted between July 21, 2010, and the date of this bill's enactment, and (2) apply this bill's requirements to such regulations.

]]> TAILOR Act of 2016 Display Title TAILOR Act of 2016 Short Titles as Introduced TAILOR Act of 2016 Short Titles as Introduced Taking Account of Institutions with Low Operation Risk Act of 2016 Official Title as Introduced A bill to require the Federal financial institutions regulatory agencies to take risk profiles and business models of institutions into account when taking regulatory actions, and for other purposes. Introduced in Senate 2016-07-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s3153is/xml/BILLS-114s3153is.xml 2016-07-11 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.