email : Webview : Regulation Digest: May 22, 2024

Reinstating Net Neutrality
The Federal Communications Commission (FCC) adopted a new order that reestablishes its authority over broadband internet access service by classifying it as a telecommunications service under Title II of the Communications Act. The order reinstates the open internet rules FCC adopted in 2015. Effective July 22.

Energy Conservation Programs
The Department of Energy (DOE) issued a final rule to adopt new energy conservation standards for circulator pumps. Effective August 5.

DOE also published a proposed rule and a direct final rule to amend energy conservation standards for air-cooled commercial package air conditioners and heat pumps with a rated cooling capacity greater than or equal to 65,000 Btu/h. Comments on the proposed rule are due September 9, and the direct final rule is effective September 17 unless adverse comment is received.

Emission Standards for Organic Chemical Manufacturing
The Environmental Protection Agency (EPA) issued a final rule that amends the New Source Performance Standards for the synthetic organic chemical manufacturing industry (SOCMI) and the National Emission Standards for Hazardous Air Pollutants that apply to the SOCMI and Group I and II polymers and resins industries. Effective July 15.

PFAS Reporting
EPA issued a final rule to update the list of chemicals subject to toxic chemical release reporting by adding seven per- and polyfluoroalkyl substances (PFAS). EPA took this action to conform the regulations to a Congressional legislative mandate. Effective June 17.

Fair and Equitable Housing
The Federal Housing Finance Agency (FHFA) issued a final rule to codify existing FHFA practices in regulation and add new requirements related to fair lending, fair housing, unfair or deceptive acts or practices, and Equitable Housing Finance Plans. Effective July 15.

Increasing Organ Transplant Access Model
The Centers for Medicare & Medicaid Services issued a proposed rule describing a new mandatory Medicare payment model, the Increasing Organ Transplant Access (IOTA) Model to test if performance-based incentive payments increase access to kidney transplants for patients with end-stage renal disease. The proposed rule includes proposed payment policies and participation requirements for the IOTA Model. The test of the IOTA Model would run from January 1, 2025, to December 31, 2030. Comments due July 16.

Hazard Communication Standard
The Occupational Safety and Health Administration issued a final rule amending the Hazard Communication Standard to conform to the United Nations’ Globally Harmonized System of Classification and Labeling of Chemicals and to better align with other U.S. agencies and international trading partners. Effective July 19.

Customer Identification Programs for Registered Investment Advisers
The Financial Crimes Enforcement Network (FinCEN) and the Securities and Exchange Commission (SEC) jointly issued a proposed rule implementing the PATRIOT Act with regard to some investment advisors. If investment advisors are included in the definition of “financial institution” under the Bank Secrecy Act, FinCEN and SEC will be required to issue another regulation requiring investment advisors to establish procedures to verify their customers’ identities. Comments due July 22.

The Opinion Section

Anthony P. Campau: A Message for Congress in the Supreme Court’s Reconsideration of Chevron Deference

Brian Knight: We Can’t be a Republic Only When it’s Convenient

Hal Scott: The CFPB’s Pyrrhic Supreme Court Victory

George Will: The Supreme Court Makes a Dangerous Ruling, Delighting Progressives

Rogé Karma: Reaganomics is on its Last Legs

Christopher Cox & Ron Wyden: Buy This Legislation Or We’ll Kill the Internet

Dan Ikenson: Too Much Washington is What Ails US Manufacturing

WSJ Editorial Board: The Gruenberg Backlash Builds | The AI Pork Barrel Arrives

Alden Abbott: Should the Federal Government Regulate Artificial Intelligence?

Bloomberg Editorial Board: Where Do Shadow Banks Get Their Money? Your Deposits

Curtis Schube: The Biden Administration’s Scientific Integrity Policies

Maia Szalavitz: Legal Weed Is Coming. It’s Time to Come Up With Some Rules

Linda Greenhouse: Is There a Constitutional Right to Talk About Abortion?

In the News

Governance & Politics

Biden's Record Regulation Blitz, Axios ⭐ feat. RSC’s Steven Balla
Pressure Mounts on Biden Admin to Finalize Regulations, Law360 ⭐ feat. RSC’s Susan Dudley
Lawmakers Update Proposal to Cut Down on Billions in Improper Payments, Government Executive

Financial Markets & Housing

House to Vote on Who Will Regulate Crypto, Forbes
The Crypto Industry is Trying to Elect Political Allies. The Stakes Couldn’t Be Higher, Wall Street Journal
Balance of Power: Crypto Regulation on Capitol Hill, Bloomberg
Funds Managed by Bank Trust Departments Draw SEC Scrutiny, Bloomberg
Dimon Led Bank CEOs to Fend Off Tougher Capital Rules, Wall Street Journal
Lawmakers Urge Financial Regulators to Take Action on Banking Discrimination, The Hill
Supreme Court Rejects Challenge to Consumer Watchdog’s Funding, New York Times
A Supreme Court Victory Won’t End a War on Regulators, New York Times
The Supreme Court Ruled to Protect the CFPB. Here's Why it Matters for Your Money, NPR

Energy & Environment

US to End Coal Leasing in Nation’s Largest Coal-producing Region, Washington Post
Biden and Big Oil Had a Truce. Now, it’s Collapsing, New York Times
US Regulator to Issue Carbon-Credits Rulebook Within Months, Bloomberg
The EPA Cop Who Became a Warrior for ‘Forever Chemicals’, Wall Street Journal

Health & Safety

US Attorney General Begins Formal Process to Reschedule Marijuana, Wall Street Journal

AI & Technology

Senators Propose $32 Billion in Annual AI Spending but Defer Regulation, New York Times
Colorado Governor Signs Sweeping AI Regulation Bill, The Hill

Transportation & Infrastructure

New Safety Rules Set Training Standards for Train Dispatchers and Signal Repairmen, Washington Post
For Each Public Charger, Here’s How Many EVs are Looking to Plug in, Washington Post

Education

Biden Administration Cancels Another $7.7 Billion in Student Loans, New York Times

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