TAILOR Act of 2015

The TAILOR Act of 2015 requires federal financial regulators to adjust their rules and oversight based on the specific risk level and business model of each individual bank or credit union. Instead of applying a "one-size-fits-all" regulatory approach, agencies would be required to reduce the compliance burden for smaller, lower-risk institutions.

For everyday citizens, this bill aims to help local community banks and credit unions remain competitive by lowering their administrative costs, potentially allowing them to offer more flexible services and diverse loan options to their customers. Additionally, the bill requires regulators to review regulations passed in the previous five years to ensure they are appropriately scaled to the size and complexity of the institutions they govern.