Month: June 2013

CFPB “Responsible Conduct” Guidance

The Consumer Financial Protection Bureau issued guidance yesterday on how banks and other financial providers under its jurisdiction can show they are responsible from a "Self-Policing, Self-Reporting, Remediation, and Cooperation" standpoint and hopefully influence discretionary enforcement functions favorably. “there are

Special Light Sport Aircraft Audit Program

Some will recall concerns raised in past years by the FAA over the compliance of some S- LSA manufacturers with the industry “consensus standards” that take the place of formal regulatory certification requirements. Now available on the FAA website is

No non-flying work for Part 135 employer during required rest periods

In a written interpretation published June 18, 2013, the FAA Chief Counsel’s office held the Part 135 rest and duty requirements preclude any work for the certificate holder or a related company during required rest periods. Applying the  135.273(a) definition of

CFPB Mortgage Rules Implementation Web Page

The Consumer Financial Protection Bureau  yesterday announced the creation of a new Regulatory Implementation web page as a one-stop location with links to the new 2013 mortgage rules and related implementation materials. Per the CFPB, “This is an effort to

CFPB Issues Report on Overdarft Fees

In a report released today, the Consumer Finance Protection Bureau noted that the users of overdraft coverage in checking accounts are more likely than non-users to pay hundreds of dollars in fees, in some cases beyond consumer expectations and with

OCC: Community Banks in Western States Grow Stronger

Good news. The OCC today issued a news release to say that improvements in key market sectors in the western part of the US have had positive effects on the condition of community banks and thrifts in the western part

FAA Announces Increased Flexibility for Alternate Airport Approach Planning

The FAA revised its policy regarding the use of GPS for alternate airport planning to authorize planning for non-WAAS GPS approaches at either the destination or the alternate (but not both). Primarily directed to the contents of OpSpecs it  probably

OIG Semiannual Report to Congress

The DOT’s Office of Inspector General issued its semi-annual report to Congress for the Oct – March 2013 period. Mentioned are the results of a number of investigations resulting in criminal penalties. Significant activity includes prosecutions related to maintenance-related activities