Just saw Ray La Hood speak on the television about this.
Here's a link to the article I could find.

The gist of this regulation is

Passengers can collect $1,300, up from $800 currently, for being bumped from a domestic flight if they arrive at their destination more than two hours later than scheduled, according to the new rule.

Consumers can collect at most $650, up from $400, if they get to their destination within two hours of the scheduled time, under the rule.

Unless airlines build their own airports, it is impossible to have control over the flight schedules. I see this as an impediment to airline profits.