Several new government regulations are set to take effect in 2016 during President Barack Obama’s final year in office, The Hill reports.
Obama vowed in his final press conference of the year to “leave it out all on the field” as he works to leave his legacy, and many of the new regulations deal with protection of the public, including consumers, employees and even users of e-cigarettes.
Here is a list of some of the expected new regulations:
Arbitration: The Consumer Financial Protection Bureau may propose rules to allow consumers to join a class-action lawsuit against financial companies rather than having to submit to arbitration with credit card and cell phone companies, among others. Cigars and e-cigarettes: Manufacturers say that a proposal to require retroactive approval from the Food and Drug Administration for any product introduced after February 15, 2007 would put them out of business. But health groups favor the rules, which already have missed an extended deadline in November. Silica dust: The Department of Labor has been working on rules to protect construction workers from the lung disease silicosis since 1997. It sent its final rule to the Office and Management and Budget last week, with review expected to take up to 90 days. Workplace injuries: The OMB is expected early in the year to pass a Labor Department rule requiring employers to keep a record of workplace injuries and illnesses. Overtime pay: A possible change in overtime pay for some white-collar workers could go into effect mid-year. Obama signed an executive order in May that all such workers earning less than $50,000 a year would be eligible. Payday loans: The Consumer Financial Protection Bureau plans new rules in February that would require payday lenders to consider a borrower’s ability to repay, limit short-term credits to 45 days and establish a 60-day “cooling off” period after a borrower has taken out three such loans in a row. Food: New rules are expected in March from the Food and Drug administration that will require shippers, carriers and receivers of human and animal food to use sanitary practices that prevent contamination. Financial advice: A new rule by the Labor Department is expected to require financial advisers to disclose more about how they are compensated for their advice. Methane: New EPA rules, set for June, would limit methane emissions by oil and gas producers. Drillers would have to use new technologies to track and block leaks.