Search Results for keywords:"rule compliance"

The Federal Deposit Insurance Corporation (FDIC) has finalized a rule to remove certain regulations that were transferred from the Office of Thrift Supervision (OTS) to the FDIC in 2011 under the Dodd-Frank Act. These regulations mainly dealt with the supervision of State savings associations. The final rule, effective March 5, 2021, aims to simplify regulations by rescinding unnecessary ones and making technical changes so that State savings associations follow similar filing requirements as other FDIC-supervised institutions. The FDIC expects these changes to have minimal impact on the affected institutions.

The Federal Aviation Administration (FAA) has issued a new rule for all Pilatus Aircraft Ltd. Model PC-7 airplanes. This rule addresses an identified unsafe condition concerning a missing screw on a harness shoulder strap buckle that could lead to loss of pilot restraint and potential loss of airplane control or crew injury. Effective February 12, 2021, it requires inspections and potential repairs or replacements of the affected parts to ensure safety. The FAA invites comments on this rule until March 29, 2021, and has deemed the situation urgent enough to forgo the usual public comment period prior to enacting the rule.