TAILOR Act of 2015 Taking Account of Institutions with Low Operation Risk Act of 2015
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HR 2896 — TAILOR Act of 2015 Taking Account of Institutions with Low Operation Risk Act of 2015
Last action — Placed on the Union Calendar, Calendar No. 680.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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Died in session
This bill died with 114th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
TAILOR Act of 2015 Taking Account of Institutions with Low Operation Risk 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.
Bill Text
We don't have the full text on file for this bill yet.
Read HR 2896 on the official United States source →Action History
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Placed on the Union Calendar, Calendar No. 680.
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Reported by the Committee on Financial Services. H. Rept. 114-870.
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Ordered to be Reported by the Yeas and Nays: 34 - 22.
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Committee Consideration and Mark-up Session Held.
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Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
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Referred to the House Committee on Financial Services.
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Introduced in House
Sponsors
- Scott Tipton · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (546)
546 members have not signed on to this bill.
Show all 546 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does HR 2896 do?
- TAILOR Act of 2015 Taking Account of Institutions with Low Operation Risk 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.
- Who sponsors HR 2896?
- HR 2896 is sponsored by Scott Tipton (R).
- What is the current status of HR 2896?
- This bill died with 114th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track HR 2896?
- Track HR 2896 free on One Click Politics — get push/email alerts when it moves.
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