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US HR1116
TAILOR Act of 2017 Taking Account of Institutions with Low Operation Risk Act of 2017
summary
Introduced
02/16/2017
02/16/2017
In Committee
10/12/2017
10/12/2017
Crossed Over
03/15/2018
03/15/2018
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
TAILOR Act of 2017 Taking Account of Institutions with Low Operation Risk Act of 2017 (Sec. 2) This bill requires federal financial regulatory agencies to: (1) tailor any regulatory actions so as to limit burdens on the institutions involved, with consideration of the risk profiles and business models of those institutions; and (2) report to Congress on specific actions taken to do so, as well as on other related issues. The bill's tailoring requirement applies not only to future regulatory actions but also to regulations adopted within the last seven years. (Sec. 3) The bill amends the Federal Reserve Act to lower the maximum allowable amount of surplus funds of the Federal Reserve banks.
AI Summary
This bill, the Taking Account of Institutions with Low Operation Risk Act of 2017 or TAILOR Act of 2017, requires federal financial regulatory agencies to tailor their regulatory actions to limit burdens on institutions based on their risk profiles and business models. The agencies must consider the impact of regulations on the ability of institutions to serve customer needs, address any conflicts or inconsistencies in regulatory directives, and report to Congress on the specific actions taken to tailor regulations. The bill also applies this tailoring requirement to regulations adopted within the last seven years and lowers the maximum allowable amount of surplus funds of the Federal Reserve banks.
Committee Categories
Business and Industry, Housing and Urban Affairs
Sponsors (86)
Scott Tipton (R)*,
Jodey Arrington (R),
Brian Babin (R),
Don Bacon (R),
Andy Barr (R),
Rob Bishop (R),
Mike Bost (R),
Jim Bridenstine (R),
Ken Buck (R),
Steve Chabot (R),
Mike Coffman (R),
Tom Cole (R),
Chris Collins (R),
Barbara Comstock (R),
Kevin Cramer (R),
Rodney Davis (R),
Ron DeSantis (R),
Scott DesJarlais (R),
Jeff Duncan (R),
John Duncan (R),
Tom Emmer (R),
Blake Farenthold (R),
Jeff Fortenberry (R),
Mike Gallagher (R),
Paul Gosar (R),
Josh Gottheimer (D),
Garret Graves (R),
Glenn Grothman (R),
Brett Guthrie (R),
Gregg Harper (R),
Trey Hollingsworth (R),
Randy Hultgren (R),
Evan Jenkins (R),
Lynn Jenkins (R),
Bill Johnson (R),
Dave Joyce (R),
Trent Kelly (R),
Peter King (R),
Steve King (R),
Doug Lamborn (R),
Bob Latta (R),
Jason Lewis (R),
Barry Loudermilk (R),
Mia Love (R),
Frank Lucas (R),
Thomas MacArthur (R),
Tom Marino (R),
Roger Marshall (R),
David McKinley (R),
Luke Messer (R),
Markwayne Mullin (R),
Kristi Noem (R),
Pete Olson (R),
Erik Paulsen (R),
Ed Perlmutter (D),
Collin Peterson (D),
Robert Pittenger (R),
Bruce Poliquin (R),
Bill Posey (R),
James Renacci (R),
Tom Rice (R),
Todd Rokita (R),
Dennis Ross (R),
Keith Rothfus (R),
Edward Royce (R),
Steve Russell (R),
Mark Sanford (R),
F. James Sensenbrenner (R),
Pete Sessions (R),
Mike Simpson (R),
Lamar Smith (R),
Steve Stivers (R),
Claudia Tenney (R),
Patrick Tiberi (R),
David Trott (R),
Mike Turner (R),
Filemón Vela (D),
Ann Wagner (R),
Tim Walberg (R),
Mimi Walters (R),
Timothy Walz (D),
Daniel Webster (R),
Roger Williams (R),
Rob Wittman (R),
Steve Womack (R),
David Young (R),
Last Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 03/15/2018)
Official Document
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