Search Results for keywords:"regulation removal"

Found 4 results

Search Results: keywords:"regulation removal"

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  • 2020-28454 — Removal of Transferred OTS Regulations Regarding Certain Subordinate Organizations of State Savings Associations
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    Type:Rule
    Citation:86 FR 8098
    Reading Time:about 37 minutes

    The Federal Deposit Insurance Corporation (FDIC) has issued a final rule to remove obsolete regulations related to subordinate organizations of State savings associations, which were originally transferred from the Office of Thrift Supervision (OTS) following the Dodd-Frank Act. These regulations, found in 12 CFR part 390, subpart O, were deemed unnecessary because their requirements are largely duplicated by other existing Federal Deposit Insurance Act (FDI Act) provisions. By removing these regulations, the FDIC aims to simplify its rules, making them easier for the public and State savings associations to understand and follow. The changes are set to take effect on March 5, 2021.

    Simple Explanation

    Imagine a school that has a bunch of rules nobody really needs anymore because other important rules already cover what they say. The people in charge decide to erase those unneeded rules, so everything is easier to read and follow. That's what the FDIC did with these old money-organization rules.

  • 2020-27911 — Water Resources Policies and Authorities: Federal Participation in Covered Flood Control Channels
    Type:Rule
    Citation:86 FR 1809
    Reading Time:about 2 minutes

    The U.S. Army Corps of Engineers is removing outdated regulations about federal participation in covered flood control channels from the Code of Federal Regulations. These regulations, which were first introduced in the late 1970s, are no longer necessary because they cover internal operations with no impact on the public. Current policies on this topic are available in more accessible locations and are designed to eliminate confusion. This removal is part of an effort to simplify regulations and follows recommendations from the Department of Defense's Regulatory Reform Task Force.

    Simple Explanation

    The U.S. Army Corps of Engineers is taking out old rules about flood control because they don't affect people outside their team, and they've found better ways to share these rules. So, they're cleaning up the rulebook to make things less confusing.

  • 2024-31079 — Interstate Commerce Commission Regulations; Removal of Chapter
    Type:Rule
    Citation:89 FR 104859
    Reading Time:less than a minute

    The Federal Register Office has decided to remove Chapter XL of Title 5 from the Code of Federal Regulations. This chapter contained the ethical conduct standards for employees of the Interstate Commerce Commission, which was abolished in 1995. The removal takes effect on December 26, 2024, as part of maintaining an orderly system of codification. The Interstate Commerce Commission has been non-existent since January 1, 1996.

    Simple Explanation

    The Federal Register Office is cleaning up the rulebook by removing some old rules about how workers behaved at a company called the Interstate Commerce Commission, which doesn't exist anymore since 1996. They're doing this to keep our rulebook neat and tidy.

  • 2020-28452 — Removal of Transferred Office of Thrift Supervision (OTS) Regulations Regarding Nondiscrimination Requirements
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    Type:Rule
    Citation:86 FR 8082
    Reading Time:about 43 minutes

    The FDIC has issued a final rule to simplify its regulations by rescinding outdated and redundant policies regarding nondiscrimination. It is removing a regulation known as "Nondiscrimination Requirements" and updating the "Fair Housing" regulation to also cover State savings associations. This change ensures all FDIC-supervised banks follow the same nondiscrimination rules, aligning with federal laws like the Equal Credit Opportunity Act and Fair Housing Act. The rule will take effect on March 5, 2021, with additional compliance deadlines set for February 3, 2022.

    Simple Explanation

    The FDIC is making some old rules about not being unfair disappear and changing the rules around fair housing so they apply to more banks, making sure everyone follows the same rules about treating people fairly when they want loans or a place to live.