,i #aafth ,,congress #ast ,session ,h4 ,r4 #gda ,,in ,,the ,,house ,,of ,,representatives ,january #bd1 #bjai,mr4 ,tipton 7for himself1 ,mr4 ,budd1 ,mr4 ,marshall1 ,mr4 ,womack1 ,mr4 ,lucas1 ,mr4 ,rodney ,davis of ,illinois1 ,mr4 ,barr1 ,mr4 ,king of ,new ,york1 ,mr4 ,loudermilk1 ,mr4 ,mullin1 ,mr4 ,fortenberry1 ,mr4 ,latta1 ,mr4 ,collins of ,new ,york1 ,mr4 ,buck1 ,mr4 ,johnson of ,ohio1 ,mr4 ,cole1 ,mr4 ,stivers1 ,mr4 ,zeldin1 ,mr4 ,davidson of ,ohio1 ,mr4 ,posey1 ,mr4 ,hill of ,arkansas1 ,mr4 ,riggleman1 and ,mr4 ,kustoff of ,tennessee7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to require the ,federal financial institutions regulatory agencies to take risk profiles and business models of institutions into account when taking regulatory actions1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,taking ,account of ,institutions with ,low ,operation ,risk ,act of #bjai or the ,,tailor ,act of #bjai4 #b4 ,regulations appropriate to business models 7a7 ,in general ,for any regulatory action occurring after the date of the enactment of this ,act1 each ,federal financial institutions regulatory agency shall-- 7#a7 take into consideration the risk profile and business models of each type of institution or class of institutions subject to the regulatory action2 7#b7 determine the necessity1 appropriateness1 and impact of applying such regulatory action to such institutions or classes of institutions2 and 7#c7 tailor such regulatory action in a manner that limits the regulatory compliance impact1 cost1 liability risk1 and other burdens1 as appropriate1 for the risk profile and business model of the institution or class of institutions involved4 7b7 ,other considerations ,in carrying out the requirements of subsection 7a71 each ,federal financial institutions regulatory agency shall consider-- 7#a7 the impact that such regulatory action1 both by itself and in conjunction with the aggregate effect of other regulations1 has on the ability of the applicable institution or class of institutions to serve evolving and diverse customer needs2 7#b7 the potential impact of examination manuals1 regulatory actions taken with respect to third-party service providers1 or other regulatory directives that may be in conflict or inconsistent with the tailoring of such regulatory action described in subsection 7a77#c72 and 7#c7 the underlying policy objectives of the regulatory action and statutory scheme involved4 7c7 ,notice of proposed and final rulemaking ,each ,federal financial institutions regulatory agency shall disclose in every notice of proposed rulemaking and in any final rulemaking for a regulatory action how the agency has applied subsections 7a7 and 7b74 7d7 ,reports to ,congress 7#a7 ,individual agency reports 7,a7 ,in general ,not later than #a year after the date of the enactment of this ,act and annually thereafter1 each ,federal financial institutions regulatory agency shall report to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate on the specific actions taken to tailor the regulatory actions of the agency pursuant to the requirements of this ,act4 7,b7 ,appearance before the ,committees ,the head of each ,federal financial institution regulatory agency shall appear before the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate after each report is made pursuant to subparagraph 7,a7 to testify on the contents of such report4 7#b7 ,,fiec reports 7,a7 ,in general ,not later than #c months after each report is submitted under paragraph 7#a71 the ,financial ,institutions ,examination ,council shall report to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate on-- 7i7 the extent to which regulatory actions tailored pursuant to this ,act result in different treatment of similarly situated institutions of diverse charter types2 and 7ii7 the reasons for such differential treatment4 7,b7 ,appearance before the ,committees ,the ,chairman of the ,financial ,institutions ,examination ,council shall appear before the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate after each report is made pursuant to subparagraph 7,a7 to testify on the contents of such report4 7e7 ,limited look-,back application 7#a7 ,in general ,each ,federal financial institutions regulatory agency shall conduct a review of all regulations adopted during the period beginning on the date that is seven years before the date of the introduction of this ,act in the ,house of ,representatives and ending on the date of the enactment of this ,act1 and apply the requirements of this ,act to such regulations4 7#b7 ,revision ,if the application of the requirements of this ,act to any such regulation requires such regulation to be revised1 the applicable ,federal financial institutions regulatory agency shall revise such regulation within #c years of the enactment of this ,act4 7f7 ,definitions ,in this ,act1 the following definitions shall apply3 7#a7 ,federal financial institutions regulatory agencies ,the term ,federal financial institutions regulatory agencies means the ,office of the ,comptroller of the ,currency1 the ,board of ,governors of the ,federal ,reserve ,system1 the ,federal ,deposit ,insurance ,corporation1 the ,national ,credit ,union ,administration1 and the ,bureau of ,consumer ,financial ,protection4 7#b7 ,regulatory action ,the term regulatory action means any proposed1 interim1 or final rule or regulation1 guidance1 or published interpretation4