The TAILOR Act to promote tiered banking regulations was reintroduced by Sen. Mike Rounds and Rep. Scott Tipton. This legislation—known as the TAILOR Act of 2017—would require financial services agencies to tailor regulatory actions based on the business model and risk profile of financial institutions.
The 2016 version of this bill passed the House Financial Services Committee. If the 2017 version is passed, legislation would be retroactive to 2010. It would also require regulators to provide an annual report to Congress that outlines the steps they have taken to tailor their regulations.
As reported recently in the Bottom Line, a survey of IBAT members found that tailored regulation for community banks is the single greatest priority they’d like to see handled for the good of the industry. The TAILOR Act of 2017 would be a good start.
Staff contact: Chris Williston, firstname.lastname@example.org, 512-474-6889