NAFCU-backed ‘TAILOR Act’ passes committee

first_imgVoting 34-22, the House Financial Services Committee on Wednesday passed the NAFCU-backed H.R. 2896, the “TAILOR Act,” a regulatory relief measure that would require that rules be tailored to fit financial institutions’ business models and risk profiles.The bill now awaits House action.H.R. 2896, the “Taking Account of Institutions with Low Operation Risk (TAILOR) Act of 2015,” would ensure that NCUA, CFPB and other regulators do not use a one-size-fits-all approach to rulemaking.Introduced by House Financial Services Committee members Scott Tipton, R-Colo., and Andy Barr, R-Ky., and cosponsored by committee member Rep. Ed Perlmutter, D-Colo., the bill would also require NCUA and CFPB to testify annually before the House Financial Services and Senate Banking Committees on specific actions taken to comply with the measure. continue reading » 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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