Taking Account of Institutions with Low Operation Risk Act of 2017

Bill: 115-hr-1116
Sponsor: Rep. Tipton, Scott  R. [R-CO-3]
Introduced: 2017-02-16 in the House
Policy area: Finance and Financial Sector
Subjects: 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
National Credit Union Administration

Summary:
action_date: 2017-02-16
text: 

Taking Account of Institutions with Low Operation Risk Act of 2017 or the TAILOR Act of 2017

 
This bill requires federal financial regulatory agencies to: (1) tailor any regulatory actions so as to limit burdens on the institutions involved, with consideration of the risk profiles and business models of those institutions; and (2) report to Congress on specific actions taken to do so, as well as on other related issues. The bill's tailoring requirement applies not only to future regulatory actions but also to regulations adopted within the last seven years.

action_date: 2018-03-06
text: 
(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 2017 or the TAILOR Act of 2017

 
(Sec. 2) This bill requires federal financial regulatory agencies to: (1) tailor any regulatory actions so as to limit burdens on the institutions involved, with consideration of the risk profiles and business models of those institutions; and (2) report to Congress on specific actions taken to do so, as well as on other related issues. The bill's tailoring requirement applies not only to future regulatory actions but also to regulations adopted within the last seven years.

action_date: 2018-03-14
text: 

Taking Account of Institutions with Low Operation Risk Act of 2017 or the TAILOR Act of 2017

 
(Sec. 2) This bill requires federal financial regulatory agencies to: (1) tailor any regulatory actions so as to limit burdens on the institutions involved, with consideration of the risk profiles and business models of those institutions; and (2) report to Congress on specific actions taken to do so, as well as on other related issues. The bill's tailoring requirement applies not only to future regulatory actions but also to regulations adopted within the last seven years.
 
(Sec. 3) The bill amends the Federal Reserve Act to lower the maximum allowable amount of surplus funds of the Federal Reserve banks.


Legislative actions:
action_date: 2018-03-15
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2018-03-14
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2018-03-14
text: On passage Passed by the Yeas and Nays: 247 - 169 (Roll no. 108). (text: CR H1576)
action_date: 2018-03-14
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 247 - 169 (Roll no. 108).(text: CR H1576)
action_date: 2018-03-14
text: On motion to recommit with instructions Failed by the Yeas and Nays: 182 - 232 (Roll no. 107).
action_date: 2018-03-14
text: The previous question on the motion to recommit with instructions was ordered without objection.
action_date: 2018-03-14
text: DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to insert on page 3, line 22 ", unless such tailoring is done at the request of and for the personal gain of the President, his or her immediate family members, or senior Executive Branch officials who are required to file annual financial disclosure forms, or is otherwise determined inappropriate by the appropriate Federal financial regulator" before the period at the end.
action_date: 2018-03-14
text: Mr. Connolly moved to recommit with instructions to the Committee on Financial Services. (text: CR H1583)
action_date: 2018-03-14
text: The previous question was ordered pursuant to the rule.
action_date: 2018-03-14
text: DEBATE - The House proceeded with one hour of debate on H.R. 1116.
action_date: 2018-03-14
text: Rule provides for consideration of H.R. 4545, H.R. 1116 and H.R. 4263. Rule provides for consideration of H.R. 4545 under a structured rule, and makes in order amendments printed in the report, with one motion to recommit with or without instructions. Rule also provides for consideration of H.R. 1116 and H.R. 4263 under closed rules. The rule provides for one hour of debate equally divided and controlled by the Chair and Ranking Minority Member of the Committee on Financial Services for each measure, and one motion to recommit with or without instructions for each measure.
action_date: 2018-03-14
text: Considered under the provisions of rule H. Res. 773. (consideration: CR H1576-1585)
action_date: 2018-03-13
text: Rules Committee Resolution H. Res. 773 Reported to House. Rule provides for consideration of H.R. 4545, H.R. 1116 and H.R. 4263. Rule provides for consideration of H.R. 4545 under a structured rule, and makes in order amendments printed in the report, with one motion to recommit with or without instructions. Rule also provides for consideration of H.R. 1116 and H.R. 4263 under closed rules. The rule provides for one hour of debate equally divided and controlled by the Chair and Ranking Minority Member of the Committee on Financial Services for each measure, and one motion to recommit with or without instructions for each measure.
action_date: 2018-03-06
text: Placed on the Union Calendar, Calendar No. 446.
action_date: 2018-03-06
text: Reported by the Committee on Financial Services. H. Rept. 115-588.
action_date: 2018-03-06
text: Reported by the Committee on Financial Services. H. Rept. 115-588.
action_date: 2017-10-12
text: Ordered to be Reported by the Yeas and Nays: 39 - 21.
action_date: 2017-10-12
text: Committee Consideration and Mark-up Session Held.
action_date: 2017-10-11
text: Committee Consideration and Mark-up Session Held.
action_date: 2017-02-16
text: Referred to the House Committee on Financial Services.
action_date: 2017-02-16
text: Introduced in House
action_date: 2017-02-16
text: Introduced in House