TAILOR Act of 2015
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 | |
| R-VA | Robert Hurt | Jul 22, 2015 | |
| R-OK | Steve Russell | Jul 22, 2015 | |
| R-OK | Tom Cole | Jul 22, 2015 | |
| R-MN | Tom Emmer | Jul 22, 2015 | |
| R-NE | Adrian Smith | Jul 23, 2015 | |
| R-IA | David Young | Jul 23, 2015 | |
| R-OH | Patrick J. Tiberi | Jul 28, 2015 | |
| R-MN | Erik Paulsen | Sep 11, 2015 | |
| R-TN | John J. Duncan, Jr. | Sep 11, 2015 | |
| R-MN | John Kline | Sep 11, 2015 | |
| R-OK | Markwayne Mullin | Sep 11, 2015 | |
| R-TN | Scott DesJarlais | Sep 11, 2015 | |
| R-WI | Sean P. Duffy | Sep 11, 2015 | |
| R-FL | Dennis A. Ross | Sep 30, 2015 | |
| R-MI | Tim Walberg | Sep 30, 2015 | |
| R-FL | Vern Buchanan | Sep 30, 2015 | |
| R-FL | John L. Mica | Oct 7, 2015 | |
| R-CO | Ken Buck | Oct 8, 2015 | |
| R-WY | Cynthia M. Lummis | Oct 20, 2015 | |
| R-UT | Mia B. Love | Oct 20, 2015 | |
| R-AL | Mo Brooks | Oct 20, 2015 | |
| R-TN | Stephen Lee Fincher | Oct 20, 2015 | |
| D-CO | Ed Perlmutter | Oct 23, 2015 | |
| R-NC | Robert Pittenger | Oct 23, 2015 | |
| R-CO | Doug Lamborn | Oct 26, 2015 | |
| R-NV | Mark E. Amodei | Oct 26, 2015 | |
| R-OH | David P. Joyce | Oct 28, 2015 | |
| R-PA | Michael G. Fitzpatrick | Nov 2, 2015 | |
| R-OH | Steve Stivers | Nov 2, 2015 | |
| R-FL | Daniel Webster | Nov 5, 2015 | |
| R-VA | Barbara Comstock | Nov 16, 2015 | |
| R-WA | Dan Newhouse | Nov 16, 2015 | |
| R-FL | David W. Jolly | Nov 18, 2015 | |
| D-NE | Brad Ashford | Dec 1, 2015 | |
| R-WI | F. James Sensenbrenner, Jr. | Dec 8, 2015 | |
| R-NE | Jeff Fortenberry | Dec 9, 2015 | |
| R-OH | Bill Johnson | Dec 11, 2015 | |
| R-OK | Frank D. Lucas | Dec 11, 2015 | |
| R-TX | Mac Thornberry | Dec 11, 2015 | |
| R-TX | K. Michael Conaway | Dec 15, 2015 | |
| R-SC | Jeff Duncan | Dec 17, 2015 | |
| R-NC | Renee L. Ellmers | Feb 23, 2016 | |
| R-OH | Steve Chabot | Feb 26, 2016 | |
| R-OH | James B. Renacci | Feb 29, 2016 | |
| R-KY | Brett Guthrie | Mar 1, 2016 | |
| R-LA | Charles W. Boustany, Jr. | Mar 1, 2016 | |
| R-IL | Mike Bost | Mar 1, 2016 | |
| R-NY | Peter T. King | Mar 1, 2016 | |
| R-LA | Ralph Lee Abraham | Mar 1, 2016 | |
| R-OH | Robert E. Latta | Mar 1, 2016 | |
| R-IL | Rodney Davis | Mar 1, 2016 | |
| R-TX | Roger Williams | Mar 1, 2016 | |
| R-FL | Jeff Miller | Mar 2, 2016 | |
| R-PA | Keith J. Rothfus | Mar 2, 2016 | |
| R-NY | Chris Collins | Mar 14, 2016 | |
| R-LA | Garret Graves | Mar 14, 2016 | |
| R-OH | Michael R. Turner | Mar 14, 2016 | |
| R-WV | Evan H. Jenkins | Mar 15, 2016 | |
| R-PA | Bill Shuster | Mar 16, 2016 | |
| D-MN | Collin C. Peterson | Mar 16, 2016 | |
| R-CA | Edward R. Royce | Mar 16, 2016 | |
| R-NH | Frank C. Guinta | Mar 16, 2016 | |
| R-TX | Pete Olson | Mar 16, 2016 | |
| R-TX | Randy K. Weber, Sr. | Mar 16, 2016 | |
| R-KS | Tim Huelskamp | Mar 16, 2016 | |
| R-TX | Lamar Smith | Mar 17, 2016 | |
| R-MO | Ann Wagner | Mar 22, 2016 | |
| R-AZ | David Schweikert | Mar 22, 2016 | |
| R-KY | Ed Whitfield | Mar 22, 2016 | |
| R-AR | J. French Hill | Mar 22, 2016 | |
| R-NJ | Leonard Lance | Mar 22, 2016 | |
| R-IN | Luke Messer | Mar 22, 2016 | |
| R-IN | Marlin A. Stutzman | Mar 22, 2016 | |
| R-SC | Mick Mulvaney | Mar 22, 2016 | |
| R-TX | Randy Neugebauer | Mar 22, 2016 | |
| R-NJ | Scott Garrett | Mar 22, 2016 | |
| R-NM | Stevan Pearce | Mar 22, 2016 | |
| R-PA | Tom Marino | Mar 22, 2016 | |
| R-SC | Tom Rice | Mar 22, 2016 | |
| R-TX | Bill Flores | Mar 23, 2016 | |
| R-TX | John R. Carter | Mar 23, 2016 | |
| R-CA | Ken Calvert | Mar 23, 2016 | |
| R-SC | Mark Sanford | Mar 23, 2016 | |
| R-FL | Ted S. Yoho | Mar 23, 2016 | |
| R-MS | Trent Kelly | Mar 23, 2016 | |
| R-NC | Patrick T. McHenry | Apr 12, 2016 | |
| R-MT | Ryan K. Zinke | Apr 12, 2016 | |
| R-NY | Elise M. Stefanik | Apr 14, 2016 | |
| R-VA | J. Randy Forbes | Apr 14, 2016 | |
| R-WI | Glenn Grothman | Apr 26, 2016 | |
| R-NC | Richard Hudson | Apr 26, 2016 | |
| R-PA | Tim Murphy | Apr 26, 2016 | |
| R-TX | Pete Sessions | Apr 27, 2016 | |
| R-ID | Michael K. Simpson | May 11, 2016 | |
| R-GA | Jody B. Hice | May 23, 2016 | |
| R-TX | Brian Babin | Jun 9, 2016 | |
| D-MN | Timothy J. Walz | Jun 15, 2016 | |
| R-IN | Todd Rokita | Sep 26, 2016 |
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.
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
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
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.
- 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
- Finance and Financial Sector
- National Credit Union Administration
Text 2
Each version as it was printed, newest first.
- Dec 12, 2016Reported in House
- Jun 25, 2015Introduced in House
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.
