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Thursday, July 9, 2015

State Associations Urge Reps. to Co-Sponsor TAILOR Act

All 53 State Bankers Associations wrote a letter urging House members to co-sponsor H.R. 2896, the “Taking Account of Institutions with Low Operation Risk Act of 2015” (the “TAILOR Act of 2015”). The TAILOR Act 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. The associations wrote:

Financial institutions, particularly community banks, have been besieged by an avalanche of regulations coming out of the financial crisis. While many of those new rules address legitimate concerns, they often are applied in indiscriminate fashion, imposing substantial burdens on institutions whose risk profiles and business models clearly do not warrant such application.

Read the letter.

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