US HB3380

Federal financial regulators (OCC, Federal Reserve, FDIC, NCUA, CFPB) must consider the risk profile and business model of financial institutions when issuing regulations and tailor rules to limit regulatory burden appropriately

Agencies must disclose in every proposed and final rulemaking how they applied risk-based tailoring requirements, and submit annual reports to Congress on tailoring actions taken

Agencies must conduct a look-back review of all final regulations issued under statutes enacted in the 15 years prior to the bill's introduction and revise them within 3 years to comply with tailoring requirements

Banks eligible for the Community Bank Leverage Ratio will receive reduced reporting requirements for their first and third quarterly call reports each year

Federal banking agencies must submit a report to Congress within 18 months on modernizing bank supervision, covering topics including changing business models, examiner training, supervisory technology, and community bank-specific factors