,,ib ,union ,calendar ,no4 #ajd #aaith ,,congress #ast ,session ,h4 ,r4 #cchj ,report ,no4 #aai-ace ,,in ,,the ,,house ,,of ,,representatives ,may #ad1 #bjbe,mr4 ,loudermilk introduced the following bill2 which was referred to the ,committee on ,financial ,services ,june #d1 #bjbe;,additional sponsor3 ,mr4 ,downing ,june #d1 #bjbe,reported with an amendment1 committed to the ,committee of the ,whole ,house on the ,state of the ,union1 and ordered to be printed,strike out all after the enacting clause and insert the part printed in italic,for text of introduced bill1 see copy of bill as introduced on ,may #ad1 #bjbe ,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 #bjbe or the ,,tailor ,act of #bjbe4 #b4 ,tailoring regulation to business model and risk 7a7 ,definitions ,in this section-- 7#a7 the term ,federal financial institutions regulatory agency 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 ,protection2 and 7#b7 the term regulatory action-- 7,a7 means any proposed1 interim1 or final rule or regulation2 and 7,b7 does not include any action taken by a ,federal financial institutions regulatory agency that is solely applicable to an individual institution1 including an enforcement action or order4 7b7 ,consideration and tailoring ,for any regulatory action occurring after the date of 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 and 7#b7 tailor the regulatory action applicable to an institution1 or type of institution1 in a manner that limits the regulatory impact1 including cost1 human resource allocation1 and other burdens1 on the institution or type of institution as is appropriate for the risk profile and business model involved4 7c7 ,factors to consider ,in carrying out the requirements of subsection 7b7 with respect to a regulatory action1 each ,federal financial institutions regulatory agency shall consider-- 7#a7 the aggregate effect of all applicable regulatory actions on the ability of institutions to flexibly serve customers of the institutions and local markets on and after the date of enactment of this ,act2 7#b7 the potential that efforts to implement the regulatory action and third-party service provider actions may work to undercut efforts to tailor the regulatory action1 as described in subsection 7b77#b72 and 7#c7 the statutory provision authorizing the regulatory action1 the congressional intent with respect to the statutory provision1 and the underlying policy objectives of the regulatory action4 7d7 ,notice of proposed and final rulemaking ,each ,federal financial institutions regulatory agency shall disclose and document in every notice of proposed rulemaking and in any final rulemaking for a regulatory action how the agency has applied subsections 7b7 and 7c74 7e7 ,reports to ,congress ,not later than #a year after the date of enactment of this ,act and annually thereafter1 each ,federal financial institutions regulatory agency shall submit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives a report on the specific actions taken to tailor the regulatory actions of the ,federal financial institutions regulatory agency pursuant to the requirements of this section4 7f7 ,limited look-back application 7#a7 ,in general ,each ,federal financial institutions regulatory agency shall-- 7,a7 conduct a review of all final regulations issued pursuant to statutes enacted during the period beginning on the date that is #ae years before the date on which this ,act is introduced in the ,house of ,representatives and ending on the date of enactment of this ,act2 and 7,b7 apply the requirements of this section to the regulations described in subparagraph 7,a74 7#b7 ,revision ,any regulation revised under paragraph 7#a7 shall be revised not later than #c years after the date of enactment of this ,act4 #c4 ,short-form call reports for all banks eligible for the community bank leverage ratio ,the appropriate ,federal banking agencies1 as defined in section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac71 shall promulgate regulations establishing a reduced reporting requirement for all banks eligible for the ,community ,bank ,leverage ,ratio1 as defined in section #bja7;a7 of the ,economic ,growth1 ,regulatory ,relief1 and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #ecga note71 when making the first and third report of condition of a year as required by section #g7;a7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahag7;a774 #d4 ,report to ,congress on modernization of supervision ,not later than #ah months after the date of enactment of this ,act1 the appropriate ,federal banking agencies1 as defined in section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac71 in consultation with ,state bank supervisors1 shall submit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives a report on the modernization of bank supervision1 including the following factors3 7#a7 ,changing bank business models4 7#b7 ,examiner workforce and training4 7#c7 ,the structure of supervisory activities within banking agencies4 7#d7 ,improving bank-supervisor communication and collaboration4 7#e7 ,the use of supervisory technology4 7#f7 ,supervisory factors uniquely applicable to community banks4 7#g7 ,changes in statutes necessary to achieve more effective supervision4 ,june #d1 #bjbe,reported with an amendment1 committed to the ,committee of the ,whole ,house on the ,state of the ,union1 and ordered to be printed