ICBA expressed support for Senate legislation to promote tiered banking regulation by requiring agencies to tailor regulatory actions based on the risk profile and business model of affected institutions.
Details: Introduced by Senate Banking Committee member Mike Rounds (R-S.D.), the TAILOR Act of 2022 (S. 3745) also includes provisions to:
Allow certain community banks to file a short-form call report in the first and third quarters.
Require the banking agencies to review the impact of regulations issued over the prior seven years.
Require the agencies to report to Congress on modernizing bank supervision.
Background: The TAILOR Act has been introduced in previous Congresses and passed the House Financial Services Committee in 2017.