S. 3153: TAILOR Act of 2016

114th Congress · introduced 2016-07-11 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2016-07-11 · official record
Who proposed it: Sen. Rounds, Mike [R-SD] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

TAILOR Act of 2016

Plain summary

Taking Account of Institutions with Low Operation Risk Act of 2016 or the TAILOR Act of 2016 This bill requires the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Consumer Financial Protection Bureau, for any rule, regulation, or guidance, to: (1) consider the risk profile and business models of individual financial institutions and those of similar type that are subject to the regulatory action; and (2) tailor the action so that it limits the regulatory impact on an individual or type of institution as is appropriate for the risk profile and business model involved. In carrying out such requirements, each such agency shall consider: whether it is necessary to apply such regulatory action to accomplish policy objectives; the impact of such action on the ability of such institutions to flexibly serve their customers and local markets; the aggregate impact of all applicable regulatory actions on such ability; the potential impact of implementing the action upon efforts to tailor it; and the statutory provision authorizing the action, the congressional intent of such provision, and the policy objectives sought by the agency in implementing it. The bill requires: (1) each such agency to report on the specific actions taken to tailor its regulatory actions pursuant to this bill, and (2) the Federal Financial Institutions Examination Council to report on the extent to which each such agency differs in the treatment of similarly situated institutions. Each agency shall: (1) conduct a review of all final regulations issued pursuant to statutes enacted between July 21, 2010, and the date of this bill's enactment, and (2) apply this bill's requirements to such regulations.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

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A “Nay” vote

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PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

TAILOR Act of 2016

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Rounds, Mike [R-SD] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

John Boozman (R-AR)

Sponsor's campaign money: Sen. Rounds, Mike [R-SD] reported raising $3.8 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (4)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Statute: A written law passed by a legislature. A statute can be changed by a later law; changing a constitution needs an amendment.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114s3153.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/s>

Record fed-us-cong114-s3153 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114