Legis Daily

TAILOR Act of 2017

USA115th CongressHR-1116| House 
| Updated: 3/15/2018
Scott R. Tipton

Scott R. Tipton

Republican Representative

Colorado

Cosponsors (85)
Lamar Smith (Republican)Paul A. Gosar (Republican)Thomas MacArthur (Republican)Steve Chabot (Republican)Mia B. Love (Republican)Robert Pittenger (Republican)F. James Sensenbrenner (Republican)Tom Cole (Republican)Frank D. Lucas (Republican)Roger Marshall (Republican)Markwayne Mullin (Republican)Trent Kelly (Republican)Gregg Harper (Republican)Pete Olson (Republican)Erik Paulsen (Republican)Randy Hultgren (Republican)Brett Guthrie (Republican)Peter T. King (Republican)Steve Stivers (Republican)Steve Womack (Republican)Kristi L. Noem (Republican)Robert J. Wittman (Republican)Claudia Tenney (Republican)Edward R. Royce (Republican)Ken Buck (Republican)Lynn Jenkins (Republican)Pete Sessions (Republican)Jeff Duncan (Republican)David Young (Republican)Tim Walberg (Republican)Bruce Poliquin (Republican)Keith J. Rothfus (Republican)Collin C. Peterson (Democratic)Rob Bishop (Republican)Mark Sanford (Republican)Todd Rokita (Republican)James B. Renacci (Republican)David B. McKinley (Republican)Barry Loudermilk (Republican)Luke Messer (Republican)Ron DeSantis (Republican)Don Bacon (Republican)Andy Barr (Republican)David P. Joyce (Republican)Jodey C. Arrington (Republican)Doug Lamborn (Republican)Steve King (Republican)Steve Russell (Republican)Timothy J. Walz (Democratic)Ann Wagner (Republican)Rodney Davis (Republican)Tom Rice (Republican)Roger Williams (Republican)Filemon Vela (Democratic)Chris Collins (Republican)Blake Farenthold (Republican)Glenn Grothman (Republican)Kevin Cramer (Republican)Patrick J. Tiberi (Republican)Trey Hollingsworth (Republican)Daniel Webster (Republican)Jason Lewis (Republican)Mike Gallagher (Republican)Tom Marino (Republican)Garret Graves (Republican)Mike Bost (Republican)Scott DesJarlais (Republican)Michael K. Simpson (Republican)Michael R. Turner (Republican)Jeff Fortenberry (Republican)Dennis A. Ross (Republican)Tom Emmer (Republican)Robert E. Latta (Republican)Bill Posey (Republican)David A. Trott (Republican)Josh Gottheimer (Democratic)Evan H. Jenkins (Republican)Ed Perlmutter (Democratic)Mike Coffman (Republican)Jim Bridenstine (Republican)John J. Duncan (Republican)Bill Johnson (Republican)Mimi Walters (Republican)Brian Babin (Republican)Barbara Comstock (Republican)

Financial Services Committee, Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.

Bill Text Versions

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Timeline
Feb 16, 2017
Introduced in House
Feb 16, 2017
Referred to the House Committee on Financial Services.
Oct 11, 2017
Committee Consideration and Mark-up Session Held.
Oct 12, 2017
Committee Consideration and Mark-up Session Held.
Oct 12, 2017
Ordered to be Reported by the Yeas and Nays: 39 - 21.
Mar 6, 2018
Placed on the Union Calendar, Calendar No. 446.
Mar 6, 2018
Reported by the Committee on Financial Services. H. Rept. 115-588.
Mar 13, 2018
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.
Mar 14, 2018
Considered under the provisions of rule H. Res. 773. (consideration: CR H1576-1585)
Mar 14, 2018
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.
Mar 14, 2018
DEBATE - The House proceeded with one hour of debate on H.R. 1116.
Mar 14, 2018
The previous question was ordered pursuant to the rule.
Mar 14, 2018
Mr. Connolly moved to recommit with instructions to the Committee on Financial Services. (text: CR H1583)
Mar 14, 2018
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.
Mar 14, 2018
The previous question on the motion to recommit with instructions was ordered without objection.
Mar 14, 2018
On motion to recommit with instructions Failed by the Yeas and Nays: 182 - 232 (Roll no. 107).
View Vote
Mar 14, 2018
On passage Passed by the Yeas and Nays: 247 - 169 (Roll no. 108). (text: CR H1576)
View Vote
Mar 14, 2018
Motion to reconsider laid on the table Agreed to without objection.
Mar 15, 2018
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • February 16, 2017
    Introduced in House
  • February 16, 2017
    Referred to the House Committee on Financial Services.
  • October 11, 2017
    Committee Consideration and Mark-up Session Held.
  • October 12, 2017
    Committee Consideration and Mark-up Session Held.
  • October 12, 2017
    Ordered to be Reported by the Yeas and Nays: 39 - 21.
  • March 6, 2018
    Placed on the Union Calendar, Calendar No. 446.
  • March 6, 2018
    Reported by the Committee on Financial Services. H. Rept. 115-588.
  • March 13, 2018
    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.
  • March 14, 2018
    Considered under the provisions of rule H. Res. 773. (consideration: CR H1576-1585)
  • March 14, 2018
    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.
  • March 14, 2018
    DEBATE - The House proceeded with one hour of debate on H.R. 1116.
  • March 14, 2018
    The previous question was ordered pursuant to the rule.
  • March 14, 2018
    Mr. Connolly moved to recommit with instructions to the Committee on Financial Services. (text: CR H1583)
  • March 14, 2018
    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.
  • March 14, 2018
    The previous question on the motion to recommit with instructions was ordered without objection.
  • March 14, 2018
    On motion to recommit with instructions Failed by the Yeas and Nays: 182 - 232 (Roll no. 107).
    View Vote
  • March 14, 2018
    On passage Passed by the Yeas and Nays: 247 - 169 (Roll no. 108). (text: CR H1576)
    View Vote
  • March 14, 2018
    Motion to reconsider laid on the table Agreed to without objection.
  • March 15, 2018
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Related Bills

  • HR 115-3280: Financial Services and General Government Appropriations Act, 2018
  • HRES 115-773: Providing for consideration of the bill (H.R. 4545) to amend the Federal Financial Institutions Examination Council Act of 1978 to improve the examination of depository institutions, and for other purposes; providing for consideration of the bill (H.R. 1116) 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; and providing for consideration of the bill (H.R. 4263) to amend the Securities Act of 1933 with respect to small company capital formation, and for other purposes.
  • HR 115-10: Financial CHOICE Act of 2017
  • HR 115-3354: Make America Secure and Prosperous Appropriations Act, 2018
Administrative law and regulatory proceduresBanking and financial institutions regulationCongressional oversightConsumer Financial Protection BureauDepartment of the TreasuryFederal Deposit Insurance Corporation (FDIC)Federal Reserve SystemNational Credit Union Administration

TAILOR Act of 2017

USA115th CongressHR-1116| House 
| Updated: 3/15/2018
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.

Bill Text Versions

View Text
4 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Feb 16, 2017
Introduced in House
Feb 16, 2017
Referred to the House Committee on Financial Services.
Oct 11, 2017
Committee Consideration and Mark-up Session Held.
Oct 12, 2017
Committee Consideration and Mark-up Session Held.
Oct 12, 2017
Ordered to be Reported by the Yeas and Nays: 39 - 21.
Mar 6, 2018
Placed on the Union Calendar, Calendar No. 446.
Mar 6, 2018
Reported by the Committee on Financial Services. H. Rept. 115-588.
Mar 13, 2018
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.
Mar 14, 2018
Considered under the provisions of rule H. Res. 773. (consideration: CR H1576-1585)
Mar 14, 2018
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.
Mar 14, 2018
DEBATE - The House proceeded with one hour of debate on H.R. 1116.
Mar 14, 2018
The previous question was ordered pursuant to the rule.
Mar 14, 2018
Mr. Connolly moved to recommit with instructions to the Committee on Financial Services. (text: CR H1583)
Mar 14, 2018
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.
Mar 14, 2018
The previous question on the motion to recommit with instructions was ordered without objection.
Mar 14, 2018
On motion to recommit with instructions Failed by the Yeas and Nays: 182 - 232 (Roll no. 107).
View Vote
Mar 14, 2018
On passage Passed by the Yeas and Nays: 247 - 169 (Roll no. 108). (text: CR H1576)
View Vote
Mar 14, 2018
Motion to reconsider laid on the table Agreed to without objection.
Mar 15, 2018
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • February 16, 2017
    Introduced in House
  • February 16, 2017
    Referred to the House Committee on Financial Services.
  • October 11, 2017
    Committee Consideration and Mark-up Session Held.
  • October 12, 2017
    Committee Consideration and Mark-up Session Held.
  • October 12, 2017
    Ordered to be Reported by the Yeas and Nays: 39 - 21.
  • March 6, 2018
    Placed on the Union Calendar, Calendar No. 446.
  • March 6, 2018
    Reported by the Committee on Financial Services. H. Rept. 115-588.
  • March 13, 2018
    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.
  • March 14, 2018
    Considered under the provisions of rule H. Res. 773. (consideration: CR H1576-1585)
  • March 14, 2018
    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.
  • March 14, 2018
    DEBATE - The House proceeded with one hour of debate on H.R. 1116.
  • March 14, 2018
    The previous question was ordered pursuant to the rule.
  • March 14, 2018
    Mr. Connolly moved to recommit with instructions to the Committee on Financial Services. (text: CR H1583)
  • March 14, 2018
    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.
  • March 14, 2018
    The previous question on the motion to recommit with instructions was ordered without objection.
  • March 14, 2018
    On motion to recommit with instructions Failed by the Yeas and Nays: 182 - 232 (Roll no. 107).
    View Vote
  • March 14, 2018
    On passage Passed by the Yeas and Nays: 247 - 169 (Roll no. 108). (text: CR H1576)
    View Vote
  • March 14, 2018
    Motion to reconsider laid on the table Agreed to without objection.
  • March 15, 2018
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Scott R. Tipton

Scott R. Tipton

Republican Representative

Colorado

Cosponsors (85)
Lamar Smith (Republican)Paul A. Gosar (Republican)Thomas MacArthur (Republican)Steve Chabot (Republican)Mia B. Love (Republican)Robert Pittenger (Republican)F. James Sensenbrenner (Republican)Tom Cole (Republican)Frank D. Lucas (Republican)Roger Marshall (Republican)Markwayne Mullin (Republican)Trent Kelly (Republican)Gregg Harper (Republican)Pete Olson (Republican)Erik Paulsen (Republican)Randy Hultgren (Republican)Brett Guthrie (Republican)Peter T. King (Republican)Steve Stivers (Republican)Steve Womack (Republican)Kristi L. Noem (Republican)Robert J. Wittman (Republican)Claudia Tenney (Republican)Edward R. Royce (Republican)Ken Buck (Republican)Lynn Jenkins (Republican)Pete Sessions (Republican)Jeff Duncan (Republican)David Young (Republican)Tim Walberg (Republican)Bruce Poliquin (Republican)Keith J. Rothfus (Republican)Collin C. Peterson (Democratic)Rob Bishop (Republican)Mark Sanford (Republican)Todd Rokita (Republican)James B. Renacci (Republican)David B. McKinley (Republican)Barry Loudermilk (Republican)Luke Messer (Republican)Ron DeSantis (Republican)Don Bacon (Republican)Andy Barr (Republican)David P. Joyce (Republican)Jodey C. Arrington (Republican)Doug Lamborn (Republican)Steve King (Republican)Steve Russell (Republican)Timothy J. Walz (Democratic)Ann Wagner (Republican)Rodney Davis (Republican)Tom Rice (Republican)Roger Williams (Republican)Filemon Vela (Democratic)Chris Collins (Republican)Blake Farenthold (Republican)Glenn Grothman (Republican)Kevin Cramer (Republican)Patrick J. Tiberi (Republican)Trey Hollingsworth (Republican)Daniel Webster (Republican)Jason Lewis (Republican)Mike Gallagher (Republican)Tom Marino (Republican)Garret Graves (Republican)Mike Bost (Republican)Scott DesJarlais (Republican)Michael K. Simpson (Republican)Michael R. Turner (Republican)Jeff Fortenberry (Republican)Dennis A. Ross (Republican)Tom Emmer (Republican)Robert E. Latta (Republican)Bill Posey (Republican)David A. Trott (Republican)Josh Gottheimer (Democratic)Evan H. Jenkins (Republican)Ed Perlmutter (Democratic)Mike Coffman (Republican)Jim Bridenstine (Republican)John J. Duncan (Republican)Bill Johnson (Republican)Mimi Walters (Republican)Brian Babin (Republican)Barbara Comstock (Republican)

Financial Services Committee, Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 115-3280: Financial Services and General Government Appropriations Act, 2018
  • HRES 115-773: Providing for consideration of the bill (H.R. 4545) to amend the Federal Financial Institutions Examination Council Act of 1978 to improve the examination of depository institutions, and for other purposes; providing for consideration of the bill (H.R. 1116) 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; and providing for consideration of the bill (H.R. 4263) to amend the Securities Act of 1933 with respect to small company capital formation, and for other purposes.
  • HR 115-10: Financial CHOICE Act of 2017
  • HR 115-3354: Make America Secure and Prosperous Appropriations Act, 2018
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresBanking and financial institutions regulationCongressional oversightConsumer Financial Protection BureauDepartment of the TreasuryFederal Deposit Insurance Corporation (FDIC)Federal Reserve SystemNational Credit Union Administration