To require the Federal financial institutions regulatory agencies to take risk profiles and business models of institutions into account when taking regulatory actions, and for other purposes.
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.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230.
Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191.
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by the Yeas and Nays: 39 - 21.
Reported by the Committee on Financial Services. H. Rept. 115-588.
Reported by the Committee on Financial Services. H. Rept. 115-588.
Placed on the Union Calendar, Calendar No. 446.
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.
Considered under the provisions of rule H. Res. 773. (consideration: CR H1576-1585)
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.
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DEBATE - The House proceeded with one hour of debate on H.R. 1116.
The previous question was ordered pursuant to the rule.
Mr. Connolly moved to recommit with instructions to the Committee on Financial Services. (text: CR H1583)
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.
The previous question on the motion to recommit with instructions was ordered without objection.
On motion to recommit with instructions Failed by the Yeas and Nays: 182 - 232 (Roll no. 107).
Roll Call #107 (House)Passed/agreed to in House: On passage Passed by the Yeas and Nays: 247 - 169 (Roll no. 108).(text: CR H1576)
Roll Call #108 (House)On passage Passed by the Yeas and Nays: 247 - 169 (Roll no. 108). (text: CR H1576)
Roll Call #108 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.