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. Tailoring regulation to business model and risk (a) Definitions In this section— (1) the term Federal financial institutions regulatory agencies means the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Bureau of Consumer Financial Protection; and (2) the term regulatory action — (A) means any proposed, interim, or final rule or regulation, guidance, or published interpretation; and (B) does not include any action taken by a Federal financial institutions regulatory agency that is solely applicable to an individual institution, including an enforcement action or order. (b) Consideration and tailoring For any regulatory action occurring after the date of enactment of this Act, each Federal financial institutions regulatory agency shall— (1) take into consideration the risk profile and business models of individual institutions and those of similar type that are subject to the regulatory action; and (2) tailor such regulatory action applicable to such institution, or type of institution, in a manner that limits the regulatory impact, including cost, human resource allocation and other burdens, on such institution or type of institution as is appropriate for the risk profile and business model involved. (c) Factors To consider In carrying out the requirements of subsection (b) (and including consideration of the requirements of paragraph (1) of that subsection), each Federal financial institutions regulatory agency shall consider— (1) whether it is necessary to apply such regulatory action to individual institutions or those of similar type in order to accomplish the underlying public policy objectives of the statutory provision involved