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H.R. 1116: TAILOR Act of 2017

This was a vote to pass H.R. 1116 in the House.

H.R. 1116 moves federal financial regulatory agencies that regulate financial institutions away from a static or one-size-fits-all approach when implementing regulations. Specifically, the bill requires the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Consumer Financial Protection Bureau to take risk profiles and business models of institutions into account when taking regulatory actions.

The bill requires the 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 regulatory agencies are also required to take into account the impact that their regulatory actions have upon the ability of institutions 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 actions, and the underlying policy objectives of the regulatory action and statutory scheme involved.

The federal financial institution regulatory agencies are required to disclose in every notice of a proposed and final rulemaking for a regulatory action how it has applied this Act, and the agencies must apply this act to all regulations adopted in the previous 5 years. Finally, the legislation requires the Federal Financial Institutions Examination Council (FFIEC) to report to Congress on the extent to which regulatory actions tailored pursuant to this Act result in differential regulation of similarly situated institutions of diverse charter types with respect to comparable regulations.

Source: Republican Policy Committee

Totals

All Votes R D
Yea 57%
 
 
247
231
 
16
 
Nay 39%
 
 
169
1
 
168
 
Not Voting 3%
 
 
14
5
 
9
 

Date: Mar 14, 2018

Question: On Passage of the Bill in the House

Required: Simple Majority

Result: Passed

Source: house.gov

Ideology Vote Chart

Key: R Yea D Yea R Nay D Nay
Seat position based on our ideology score.

Cartogram Map

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Vote Details

Notes: The Speaker’s Vote? “Aye” or “Yea”?
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Statistically Notable Votes

Statistically notable votes are the votes that are most surprising, or least predictable, given how other members of each voter’s party voted and other factors.

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