TAILOR Act of 2016

Summary

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.

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Timeline

1. 11 July 2016

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 11 July 2016

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 11 July 2016 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 11 July 2016

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 11 July 2016

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 11 July 2016

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Rounds, Mike [R-SD] · R · Sponsor
• Sen. Gardner, Cory [R-CO] · R · Cosponsor
• Sen. Boozman, John [R-AR] · R · Cosponsor
• · ssbk00 · Standing

Related records

• related to → TAILOR Act of 2015
• related to → TAILOR Act of 2017