1. Short title This Act may be cited as the Taking Account of Institutions with Low Operation Risk Act of 2017 or the TAILOR Act of 2017 . 2. Regulations appropriate to business models (a) In general For any regulatory action occurring after the date of the enactment of this Act, each Federal financial institutions regulatory agency shall— (1) take into consideration the risk profile and business models of each type of institution or class of institutions subject to the regulatory action; (2) determine the necessity, appropriateness, and impact of applying such regulatory action to such institutions or classes of institutions; and (3) tailor such regulatory action in a manner that limits the regulatory compliance impact, cost, liability risk, and other burdens, as appropriate, for the risk profile and business model of the institution or class of institutions involved. (b) Other considerations In carrying out the requirements of subsection (a), each Federal financial institutions regulatory agency shall consider— (1) the impact that such regulatory action, both by itself and in conjunction with the aggregate effect of other regulations, has on the ability of the applicable institution or class of institutions to serve evolving and diverse customer needs; (2) the potential impact of examination manuals, regulatory actions taken with respect to third-party service providers, or other regulatory directives that may be in conflict or inconsistent with the tailoring of such regulatory action described in subsection (a)(3)