PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in Senate · Jul 11, 2016
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:
Showing the opening paragraphs of the official summary.
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.
People & committees
Sen. Rounds, Mike [R-SD] · R–SD
Legislative record
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
Source last updated: Aug 12, 2025. Consult Congress.gov for the current record.
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