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Committee advances Taylor Act to require regulators to tailor rules to institution risk profiles
Summary
HR 3380, the Taylor Act, would require federal regulators to tailor regulations and supervisory actions to an institution’s size, risk profile, and business model. Proponents said the change protects community banks from one-size-fits-all rules; critics warned it could enable legal challenges and weaken consumer protections.
Taylor Act would require regulators to consider institution-specific risk and business model before issuing rules.
Representative Barry Loudermilk, sponsor of HR 33 80, told the committee the Taylor Act would “right size federal regulation” by requiring regulators to tailor rules to the risk profile of small and midsize institutions rather than…
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