ABA yesterday wrote to Rep. Scott Tipton (R-Colo.) to thank him for introducing the TAILOR Act, H.R. 2896, which would direct financial regulators to tailor regulatory actions based on the sizes, business models, risk profiles and other differentiating characteristics of the institutions they supervise.
“It is clear that legislation is needed to address the mounting burdens of regulation that, in the aggregate, have stifled the ability of our nation’s financial institutions to serve the needs of consumers and small businesses, as well as local and regional economies,” ABA said, adding that Tipton’s bill “offers the possibility of real and targeted relief for banking institutions facing the avalanche of new regulations coming out of the financial crisis while rolling back none of the important protections recently put in place.”
