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Federal Register / Vol. 86, No. 37 / Friday, February 26, 2021 / Rules and Regulations delayed effective date provisions of the Administrative Procedure Act do not apply to the amended rule. See 5 U.S.C.
553b and d. Because public notice and comment is not required, the Regulatory Flexibility Act, 5 U.S.C. 601
et seq., also does not apply to the amended rule.
Authority and Issuance For the reasons set forth in the the Federal Open Market Committee amends 12 CFR part 272 to read as follows:
SUPPLEMENTARY INFORMATION,
PART 272RULES OF PROCEDURE
1. The authority citation for part 272
continues to read as follows:

Authority: 5 U.S.C. 552.

PART 272AMENDED
2. In part 272, revise all references to Chairman and Vice Chairman to read Chair and Vice Chair, respectively.

By order of the Federal Open Market Committee.
Matthew M. Luecke, Deputy Secretary, Federal Open Market Committee.
FR Doc. 202104039 Filed 22521; 8:45 am BILLING CODE 621001P

BUREAU OF CONSUMER FINANCIAL
PROTECTION
12 CFR Part 1026
Public Statement on General QM and Seasoned QM Final Rules Bureau of Consumer Financial Protection.
ACTION: Public statement; status of published final rules.
AGENCY:

The Bureau of Consumer Financial Protection Bureau has released a public statement regarding the mandatory compliance date of the Bureaus General QM Final Rule and possible reconsideration of the General QM Final Rule and the Seasoned QM
Final Rule.
DATES: The public statement was released on the Bureaus website on February 23, 2021.
FOR FURTHER INFORMATION CONTACT: Ben Cady, Mark Morelli, Amanda Quester, or Jane Raso, Senior Counsels, Office of Regulations, at 2024357700. If you require this document in an alternative electronic format, please contact CFPB_
Accessibility@cfpb.gov.

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SUMMARY:

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On December 10, 2020, the Bureau issued two final rules relating to the qualified mortgage QM definition under the Truth in Lending Act: A final rule entitled Qualified Mortgage Definition under the Truth in Lending Act Regulation Z: General QM Loan Definition General QM Final Rule and a final rule entitled Qualified Mortgage Definition under the Truth in Lending Act Regulation Z: Seasoned QM Loan Definition Seasoned QM
Final Rule.1 March 1, 2021, is the effective date of both the General QM
Final Rule and the Seasoned QM Final Rule. The Bureau also established a mandatory compliance date for the General QM Final Rule of July 1, 2021.
Another category of QMs currently available under Regulation Z consists of loans that are eligible for purchase or guarantee by either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation collectively, the GSEs, while operating under the conservatorship or receivership of the Federal Housing Finance Agency FHFA Temporary GSE QM loan definition. Pursuant to a final rule issued on October 20, 2020, the Temporary GSE QM loan definition is scheduled to expire on 1 the mandatory compliance date of the General QM Final Rule or 2 with respect to each GSE when that GSE
ceases to operate under the conservatorship of FHFA, whichever happens earlier.2
The Bureau is considering whether to initiate a rulemaking to revisit the Seasoned QM Final Rule. If the Bureau decides to do so, it expects that it will consider in that rulemaking whether any potential final rule revoking or amending the Seasoned QM Final Rule should affect covered transactions for which an application was received during the period from March 1, 2021, until the effective date of such a final rule.
The Bureau also expects to issue shortly a proposed rule that would delay the July 1, 2021 mandatory compliance date of the General QM
Final Rule. If such a proposed rule were finalized, creditors would be able to use either the current General QM loan definition or the revised General QM
loan definition for applications received during the period from March 1, 2021, until the delayed mandatory compliance date. Furthermore, the Bureau
SUPPLEMENTARY INFORMATION:

1 85 FR 86402 Dec. 29, 2020; 85 FR 86308 Dec.
29, 2020.
2 Qualified Mortgage Definition Under the Truth in Lending Act Regulation Z: Extension of Sunset Date, 85 FR 67938 Oct. 26, 2020.

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anticipates that the Temporary GSE QM
loan definition will remain in effect until the new mandatory compliance date, in accordance with the October 20, 2020 final rule described above, except that the Temporary GSE QM loan definition would expire with respect to a GSE if that GSE ceases to operate under conservatorship prior to the new mandatory compliance date.
The Bureau will consider at a later date whether to initiate another rulemaking to reconsider other aspects of the General QM Final Rule.
Dated: February 22, 2021.
David Uejio, Acting Director, Bureau of Consumer Financial Protection.
FR Doc. 202103987 Filed 22321; 4:15 pm BILLING CODE 4810AMP

DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration 14 CFR Parts 11, 21, 43, and 107
Docket No. FAA20181087
RIN 2120AK85

Operation of Small Unmanned Aircraft Systems Over People; Delay of Effective Date; Correction Federal Aviation Administration FAA.
ACTION: Final rule; delay of effective;
correction.
AGENCY:

In accordance with the memorandum of January 20, 2021, from the Assistant to the President and Chief of Staff, titled Regulatory Freeze Pending Review, the Agency delays the March 1, 2021 effective date of the final rule, Operation of Small Unmanned Aircraft Systems Over People, until March 16, 2021.
DATES: As of February 26, 2021, the March 1, 2021 effective date of the final rule published on January 15, 2021, at 86 FR 4314, is delayed to March 16, 2021. The corrections are effective March 16, 2021.
FOR FURTHER INFORMATION CONTACT:
Michael Machnik, General Aviation and Commercial Division, Flight Standards Service, Federal Aviation Administration, 55 M Street SE, 8th Floor, Washington, DC 20003; telephone 1844FLYMYUAS; email: UASHelp@
faa.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:

Electronic Access and Filing A copy of the notice of proposed rulemaking NPRM 84 FR 3856, Feb.

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