Search Results for citation:"86 FR 11623"

Found 2 results

Search Results: citation:"86 FR 11623"

💰 Only
Oldest Newest
  • 2021-03987 — Public Statement on General QM and Seasoned QM Final Rules
    Type:Rule
    Citation:86 FR 11623
    Reading Time:about 2 minutes

    The Bureau of Consumer Financial Protection released a public statement about the compliance dates for two mortgage rules: the General Qualified Mortgage (QM) Final Rule and the Seasoned QM Final Rule. Both rules regarding the definition of qualified mortgages took effect on March 1, 2021, but the mandatory compliance date for the General QM Final Rule is set for July 1, 2021. The Bureau is considering revisiting the Seasoned QM Final Rule and may delay the mandatory compliance date for the General QM Final Rule. They also intend to propose a rule that might allow lenders to use either the current or revised General QM loan definition until a new compliance date, with the Temporary GSE QM loan definition remaining effective until then.

    Simple Explanation

    The Consumer Financial Protection Bureau has said that they might change their rules about what makes a "safe" mortgage loan and are thinking about giving banks more time to follow the new rules. They want to let banks keep using old rules for a little while longer, but they haven't decided exactly when or how this will happen.

  • 2021-04093 — Operation of Small Unmanned Aircraft Systems Over People; Delay of Effective Date; Correction
    Type:Rule
    Citation:86 FR 11623
    Reading Time:about 4 minutes

    The Federal Aviation Administration (FAA) has delayed the effective date of a rule concerning the operation of small unmanned aircraft systems (drones) over people. Originally set to take effect on March 1, 2021, the rule is now delayed until March 16, 2021. This delay is in response to a directive for a "Regulatory Freeze Pending Review" issued by the Assistant to the President. The final rule will allow routine drone operations over people and moving vehicles and at night, with specific conditions, and includes changes to testing rules and certification presentations.

    Simple Explanation

    The people in charge of airplane rules are waiting a little longer before they let small drones fly over people and cars—they were supposed to start on March 1, 2021, but now have to wait until March 16, 2021, so they can make sure everything is safe and ready.