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H. Rept. 114-870 1 (2016-12-12)

handle is hein.congrecreports/crptxryt0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP 114TH CONGRESS REPORT 2d Session HOUSE OF REPRESENTATIVES 114-870 TAKING ACCOUNT OF INSTITUTIONS WITH LOW OPERATION RISK ACT OF 2015 DECEMBER 12, 2016.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HENSARLING, from the Committee on Financial Services, submitted the following REPORT together with MINORITY VIEWS [To accompany H.R. 2896] [Including cost estimate of the Congressional Budget Office] The Committee on Financial Services, to whom was referred the bill (H.R. 2896) to require the Federal financial institutions regu- latory agencies to take risk profiles and business models of institu- tions into account when taking regulatory actions, and for other purposes, having considered the same, report favorably thereon without amendment and recommend that the bill do pass. PURPOSE AND SUMMARY H.R. 2896 directs the federal financial institutions regulatory agencies to tailor their rulemakings in consideration of the risk profiles and business models of institutions that would be subject to such rules. H.R. 2896 also directs such agencies to annually re- port to Congress and testify regarding the specific actions taken to tailor their regulatory actions. BACKGROUND AND NEED FOR LEGISLATION The growing weight and complexity of regulation for community financial institutions affects their ability to provide the products and services necessary to allow small businesses to grow and con- sumers to access credit to realize their financial and personal goals. The regulatory burden falls into three major categories: (1) addi- 69-006

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