HR 2896 · 114th Congress 2015–2017, ended

TAILOR Act of 2015

Introduced Jun 25, 2015 Originated House Sponsor Scott R. Tipton R-CO

Latest action · Dec 12, 2016 Placed on the Union Calendar, Calendar No. 680.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

IntroducedJun 25, 2015
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Taking Account of Institutions with Low Operation Risk Act of 2015 or the TAILOR Act of 2015

(Sec. 2) This bill directs 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 (federal financial institutions regulatory agencies) to:

take into consideration the risk profile and business models of institutions subject to regulatory action;
determine the necessity, appropriateness, and impact of applying that action to such institutions; and
tailor regulatory action so as to limit the burden of regulatory compliance as befits the risk profile and business model involved.

The federal financial institutions regulatory agencies shall also consider:

the impact that such regulatory action has upon the ability of the institution to flexibly serve evolving and diverse customer needs,
the potential unintended impact of examination manuals or other regulatory directives that work in conflict with the tailoring of such regulatory action, and
the underlying policy objectives of the regulatory action and statutory scheme involved.

In addition, a federal financial institutions regulatory agency must disclose in every notice of a proposed and final rulemaking for a regulatory action how it has applied this bill.

The Financial Institutions Examination Council shall report to Congress on the extent to which regulatory actions tailored pursuant to this bill result in differential regulation of similarly-situated institutions of diverse charter types with respect to comparable regulations.

The agencies must also apply the requirements of this bill to all regulations adopted five years before the introduction of this bill and ending on the date of its enactment.

Cosponsors 113

Members who signed on, in the order they did. Signatures ran from Jun 25, 2015 to Sep 26, 2016; 1 is an original cosponsor, there from the day it was introduced.

Seat	Cosponsor		Signed on
R-KY	Andy Barr	Original	Jun 25, 2015
R-TX	Blake Farenthold		Jul 9, 2015
R-CO	Mike Coffman		Jul 10, 2015
R-CA	Mimi Walters		Jul 10, 2015
R-IA	Rod Blum		Jul 10, 2015
R-FL	Ander Crenshaw		Jul 22, 2015
R-FL	Bill Posey		Jul 22, 2015
R-ME	Bruce Poliquin		Jul 22, 2015
R-WV	David B. McKinley		Jul 22, 2015
R-OK	Jim Bridenstine		Jul 22, 2015
R-ND	Kevin Cramer		Jul 22, 2015
R-KS	Lynn Jenkins		Jul 22, 2015
R-PA	Mike Kelly		Jul 22, 2015
R-KS	Mike Pompeo		Jul 22, 2015
R-AZ	Paul A. Gosar		Jul 22, 2015

Show all 113 cosponsors

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

Chamber	Committee	What it did
House	Financial Services Committee	Referred Jun 25, 2015Markup Mar 2, 2016Reported Dec 12, 2016
	Consumer Protection and Financial Institutions Subcommittee	Hearings Oct 21, 2015

Actions 7

Everything that happened, newest first.

Dec 12, 2016Reported by the Committee on Financial Services. H. Rept. 114-870.
Dec 12, 2016Placed on the Union Calendar, Calendar No. 680.
Mar 2, 2016Committee Consideration and Mark-up Session Held.
Mar 2, 2016Ordered to be Reported by the Yeas and Nays: 34 - 22.
Oct 21, 2015Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Jun 25, 2015Introduced in House
Jun 25, 2015Referred to the House Committee on Financial Services.

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Committee report

H. Rept. 114-870

Congressional Budget Office cost estimate

Jul 7, 2016H.R. 2896, TAILOR ActAs ordered reported by the House Committee on Financial Services on March 2, 2016

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Article I, Section 8, Clause 3: ``The Congress shall have power . . . To regulate commerce with foreign nations, and among the several states, and with the Indian Tribes.''

The sponsor’s statement, as printed in the Congressional Record, vol. 161, no. 103, June 25, 2015, page H4772.

Printed hearings 2

Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.

Number	Hearing	Committee	Held
114-64	BEARING THE BURDEN: OVER-REGULATION'S IMPACT ON SMALL BANKS AND RURAL COMMUNITIES64 pages	Small Business Committee	Jun 9, 2016
Serial No. 114-55	EXAMINING LEGISLATIVE PROPOSALS TO REDUCE REGULATORY BURDENS ON MAIN STREET JOB CREATORS79 pages	Financial Services Committee	Oct 21, 2015

CRS reports 1

Congressional Research Service work that CRS links to this bill or the law it became, newest first.

Cite it 1

Products on other subjects that cite it, usually among other measures.

Product	Title	Kind	Published
R44035	“Regulatory Relief” for Banking: Selected Legislation in the 114th Congress Archived	Report	Nov 23, 2016

Related bills 1

Companion bills and other measures the record links to this one.

Bill	Title	Relationship	Latest action
S 3153	TAILOR Act of 2016	Related bill	Jul 11, 2016

Titles 5

Every title it has carried, official and short, at each stage.

Official Title as Introduced: 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.
Short Titles as Introduced: TAILOR Act of 2015; Taking Account of Institutions with Low Operation Risk Act of 2015
Short Titles as Reported to House: TAILOR Act of 2015; Taking Account of Institutions with Low Operation Risk Act of 2015

Subjects

Assigned by the Library of Congress. Policy area: Finance and Financial Sector.

Text 2

Each version as it was printed, newest first.

Dec 12, 2016Reported in House
Jun 25, 2015Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.