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S 3745 117th Congress Senate Finance and Financial Sector Banking and financial institutions regulation Business records Congressional oversight

TAILOR Act of 2022

Introduced: March 3, 2022 Introduced by: Rounds, Mike Republican · South Dakota See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 3, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 3, 2022
Introduced in Senate
 Plain-English summary Congressional Research Service

Taking Account of Institutions with Low Operation Risk Act of 2022 or the TAILOR Act of 2022

This bill addresses the supervision of financial institutions.

The 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.

The bill also reduces certain reporting requirements for banks eligible for the community bank leverage ratio.

Finally, federal banking agencies must report on the modernization of bank supervision, including examiner workforce and training and statutory changes necessary to achieve more effective supervision.

What's happening now March 3, 2022

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2