New regs for Tuesday: Farmers, banks, smoking ban

Tuesday’s edition of the Federal Register contains new rules for farmers growing fruits and vegetables, reserve requirements for banks, and a smoking ban at public housing facilities.

Here’s what is happening:

Farming: The Food and Drug Administration (FDA) is moving forward with new farming standards to protect against foodborne illness.

The FDA will establish new standards for “growing, harvesting, packing, and holding” fruits and vegetables under the Food Safety and Modernization Act.

The FDA estimates the rules will prevent more than 330,000 illnesses each year, but could cost about $366 million annually for industry to comply with.

“We expect the rule to reduce foodborne illness associated with the consumption of contaminated produce,” the agency wrote.

The rule goes into effect in 60 days.

Smoking: The Department of Housing and Urban Development (HUD) is proposing a smoking ban at all public housing facilities.

The HUD announced the smoking ban last week, but if formally proposing the rule in the Federal Register, starting the clock on the rulemaking process.

Under this rule, residents would be prohibited from lighting up inside government-assisted housing facilities. It is intended to protect non-smokers from exposure to the secondhand smoke of their neighbors.

The public has 60 days to comment.

Sharks: The National Marine Fisheries Service (NMFS) will not issue further protections for hammerhead sharks.

“The hammerhead sharks are recognized by their laterally expanded head that resembles a hammer, hence the common name ‘hammerhead,’ the agency wrote.

The NMFS listed certain hammerhead sharks as endangered, and others as threatened, in July 2014. As part of a follow-up rulemaking, the agency was considered whether to create a critical habitat for these sharks, but decided it is not feasible.

The finding goes into effect immediately.

Banks: The Federal Reserve is moving forward with new reserve requirements for banks in 2016.

The new reserve requirement of three percent would apply to banks that hold more than $110 million in net transaction accounts.

The Fed is also setting a new reserve requirement exemption amount for smaller banks.

The reserve requirements are updated each year .

The changes go into effect in 30 days.