New regs for Tuesday: Fishing and finance

Tuesday’s edition of the Federal Register will be an especially light one, with just a few new regulations coming out affecting the financial system and fishing. 

Here’s what’s coming:

Finance:

The Federal Reserve is publishing a proposal with new restrictions on financial institutions that receive checks from the Federal Reserve system of banks. According to the financial regulator, the rule is necessary to implement another proposal about posting banks’ debits and credits.

{mosads}Since 1992, banks have had a one-hour window to examine a check after being presented with it and decide whether to settle the check or return it. The new proposal would shrink that window to 30 minutes, because “several technological and operational developments” have occurred since 1992, the Fed said.

Fishing:

The National Marine Fisheries Service is reopening the commercial summer flounder fishery in New Jersey to let fishers meet their annual quota. 

The agency is also reopening the comment period on an August proposal to change the management plan for incidentally catching bluefin and proposing 2014 and 2015 rules for catching prohibited species in the Bering Sea and halibut in the Gulf of Alaska. 

Additionally, the Commerce Department wants to update the rules for a national marine sanctuary in Georgia.