H.R. 3230

Financial Institution Regulatory Tailoring Enhancement Act This bill limits the regulations applicable to certain financial institutions by increasing several different asset levels. The bill raises the asset level above which insured depository institutions and credit unions become subject to supervision by the Consumer Financial Protection Bureau for purposes of compliance with consumer financial laws and for risk assessments of products and services. The bill raises the asset level above which banks must comply with the Volcker Rule, which prohibits banks from proprietary trading and having an ownership interest in private funds. The bill raises the asset level below which financial institutions must comply with less prescriptive ability-to-repay determinations for residential mortgages. Finally, the bill raises the asset level below which certain depository institutions and depository institution holding companies qualify as community banks and are therefore subject to a simplified leverage ratio.