Civil Monetary Penalty Inflation Adjustment, 9349-9351 [E9-4608]
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Federal Register / Vol. 74, No. 41 / Wednesday, March 4, 2009 / Rules and Regulations
§ 740.1
Definitions.
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*
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(b) Insured credit union and federally
insured credit union as used in this part
mean a credit union with National
Credit Union Administration share
insurance.
(c) Nonfederally insured credit union
as used in this part means a credit union
with either no account insurance or
with primary account insurance
provided by some entity other than the
National Credit Union Administration.
3. Amend § 740.4 by revising
paragraph (c) to read as follows:
■
§ 740.4
Requirements for the official sign.
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(c) To avoid any member confusion
from the use of the official NCUA sign,
federally insured credit unions are
prohibited from receiving account funds
at any teller station or window where
any nonfederally insured credit union
also receives account funds. As
exceptions to this prohibition:
(1) A teller in a branch of a federally
insured credit union may accept
account funds for nonfederally insured
credit unions, but only if the teller
displays a conspicuous sign next to the
official sign that states ‘‘This credit
union participates in a shared branch
network with other credit unions and
accepts share deposits for members of
those other credit unions. While this
credit union is federally insured, not all
of these other credit unions are federally
insured. If you need information on the
insurance status of your credit union,
please contact your credit union
directly.’’ This sign must be similar to
the official sign in terms of design,
color, and font.
(2) A teller in a facility operated by a
non-credit union entity may accept
account funds for both federally insured
credit unions and nonfederally insured
credit unions, but only if the teller
displays a conspicuous sign next to the
official sign stating ‘‘This facility
accepts share deposits for multiple
credit unions. Not all of these credit
unions are federally insured. If you need
information on the insurance status of
your credit union, please contact your
credit union directly.’’ This sign must
be similar to the official sign in terms of
design, color, and font.
(3) A teller in a branch of a
nonfederally insured credit union may
accept account funds for federally
insured credit unions. No teller in a
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nonfederally insured credit union may
display the official NCUA sign.
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[FR Doc. E9–4600 Filed 3–3–09; 8:45 am]
BILLING CODE 7535–01–P
NATIONAL CREDIT UNION
ADMINISTRATION
12 CFR Part 747
Civil Monetary Penalty Inflation
Adjustment
AGENCY: National Credit Union
Administration.
ACTION: Final rule.
The National Credit Union
Administration (NCUA) is amending its
rules of practice and procedure to adjust
the maximum amount of each civil
money penalty (CMP) within its
jurisdiction to account for inflation.
This action, including the amount of the
adjustment, is required under the
Federal Civil Penalties Inflation
Adjustment Act of 1990, as amended by
the Debt Collection Improvement Act of
1996.
DATES: Effective Date: March 4, 2009.
FOR FURTHER INFORMATION CONTACT: John
K. Ianno, Associate General Counsel, or
Jon Canerday, Trial Attorney, Office of
General Counsel, NCUA, 1775 Duke
Street, Alexandria, Virginia 22314, or
telephone (703) 518–6540.
SUPPLEMENTARY INFORMATION:
SUMMARY:
A. Background
The Debt Collection Improvement Act
of 1996 1 (DCIA) amended the Federal
Civil Penalties Inflation Adjustment Act
of 1990 2 (FCPIA Act) to require every
Federal agency to enact regulations that
adjust each civil monetary penalty
(CMP) provided by law under its
jurisdiction by the rate of inflation at
least once every 4 years. These periodic
adjustments are to be calculated
pursuant to the inflation adjustment
formula in section 5(b) of the FCPIA
Act. Section 6 of the FCPIA Act
specifies that inflation-adjusted CMPs
will only apply to violations that occur
after the effective date of the
adjustment.
The inflation adjustment is based on
the percentage increase in the Consumer
1 Public Law 104–134, 31001(s), 110 Stat. 1321–
373, (Apr. 26, 1996). The provision is codified at
28 U.S.C. 2461 note.
2 Public Law 101–410, 104 Stat. 890, (Oct. 5,
1990), also codified at 28 U.S.C. 2461 note.
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9349
Price Index for all urban consumers
(CPI–U) published by the Department of
Labor.3 Specifically, section 5(b) of the
FCPIA Act defines the term ‘‘cost-ofliving adjustment’’ as ‘‘the percentage (if
any) for each civil monetary penalty by
which—(1) the Consumer Price Index
for the month of June of the calendar
year preceding the adjustment, exceeds
(2) the Consumer Price Index for the
month of June of the calendar year in
which the amount of such civil
monetary penalty was last set or
adjusted pursuant to law.’’ The amount
of each inflation adjustment must then
be rounded to a number prescribed by
section 5(a) of the FCPIA Act.
B. Mathematical Calculations of the
Adjustments
NCUA last adjusted the CMPs it is
authorized to impose in 2004. 69 FR
60080. Accordingly, the current
adjustment of these CMPs will be the
percentage by which the CPI–U for the
month of June 2007 exceeds the CPI–U
for the month of June 2004. According
to the Bureau of Labor Statistics, the
CPI–U for the month of June 2004 was
189.7 and the CPI–U for the month of
June 2007 was 208.352. The percentage
by which the 2007 figure exceeds the
2004 figure is 9.8 percent. Thus, the
CMPs should be multiplied by 9.8
percent, the resulting dollar amount
rounded up or down according to the
rounding requirements of the FCPIA
Act, and then that amount added to the
current penalty. In some cases, the
rounding rules resulted in no
adjustment to the amount of the CMP.
In previous years, the Board has
explained in detail the adjustment
procedure for each of the CMPs under
its jurisdiction. Detailed explanations
were provided because some CMPs were
adjusted for the first time, requiring the
use of different formulas. In view of the
fact that all of the CMPs were last
adjusted in 2004, such detailed
explanations are no longer necessary.
For that reason, and to be consistent
with the other banking agencies, the
Board will show the adjustments in
table format. The following table shows
both the present CMPs, the adjustment
methodology, and the CMPs after being
adjusted for inflation. The table
published in 12 CFR 747.1001 shows
only the adjusted CMPs, not the
calculations.
3 The CPI–U is published by the Department of
Labor, Bureau of Labor Statistics, and is available
at its Web site: https://www.bls.gov/cpi/.
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Federal Register / Vol. 74, No. 41 / Wednesday, March 4, 2009 / Rules and Regulations
U.S. code citation
Current maximum
penalty
(in dollars)
Percentage
increase
12 U.S.C. 1782(a)(3) .......................
Inadvertent ...............
Non-inadvertent .......
Intentional or reckless.
$2,200 5 ..............
22,000 ................
1,175,000 (or 1%
of total assets).
9.8
9.8
9.8
$216
2,156
115,150
$0
0
125,000
12 U.S.C. 1782(d)(2) .......................
Tier 1 ........................
Tier 2 ........................
Tier 3 ........................
9.8
9.8
9.8
216
2,156
115,150
0
0
125,000
12 U.S.C. 1785(e)(3) .......................
12 U.S.C. 1786(k)(2) .......................
..................................
Tier 1 ........................
Tier 2 ........................
Tier 3 ........................
9.8
9.8
9.8
9.8
11
637
3,185
122,500
0
1,000
5,000
125,000
42 U.S.C. 4012a(f) ...........................
Per violation .............
Per year ...................
2,200 ..................
22,000 ................
1,175,000 (or 1%
of total assets).
110 .....................
6,500 ..................
32,500 ................
1,250,000 (for
natural person)
1,250,000 (or
1% of total assets) (for CU).
385 .....................
120,000 ..............
9.8
9.8
38
11,760
0
10,000
The NCUA Board now adopts this
final rule to adjust the forgoing CMPs
for the rate of inflation, as required by
the FCPIA Act. As provided in the final
rule, the revised CMP amounts will only
apply to violations that occur after the
effective date of the final rule.
C. Regulatory Procedures
Final Rule Under the Administrative
Procedures Act
The FCPIA Act requires adjustments
of CMPs for inflation to occur at least
every four years. The FCPIA Act
provides federal agencies with no
discretion in the adjustment of CMPs for
inflation. Thus, NCUA is unable to vary
the amount of the adjustments to reflect
any views or suggestions provided by
commenters. Further, the regulation is
ministerial and technical. For all of
these reasons, the NCUA Board finds
good cause to determine that public
notice and comment for this new
regulation is unnecessary, impractical
and contrary to the public interest,
pursuant to the Administrative
Procedure Act (APA), 5 U.S.C.
553(b)(3)(B). These same reasons also
provide the Board with good cause to
4 The FCPIA Act’s rounding rules require that an
increase of a CMP be rounded to the nearest
multiple of: $10 in the case of penalties less than
or equal to $100; $100 in the case of penalties
greater than $100 but less than or equal to $1,000;
$1,000 in the case of penalties greater than $1,000
but less than or equal to $10,000; $5,000 in the case
of penalties greater than $10,000 but less than or
equal to $100,000; $10,000 in the case of penalties
greater than $100,000 but less than or equal to
$200,000; and $25,000 in the case of penalties
greater than $200,000. Section 5(a) of the FCPIA
Act, 28 U.S.C. 2461 note.
5 Erroneously published in the Federal Register
as $22,000.
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Amount of
increase
(in dollars)
Amount of
increase—
after
rounding 4
(in dollars)
Tier or description
(if applicable)
Adjusted
maximum
penalty
(in dollars)
No Change.
No Change.
$1,300,000 (or
1% of total assets).
No Change.
No Change.
1,300,000 (or 1%
of total assets).
No Change.
7,500.
37,500.
1,375,000 (for
natural person)
1,375,000 (or
1% of total assets) (for CU).
No Change.
130,000.
adopt an effective date for this
regulation that is less than 30 days after
the date of publication in the Federal
Register, pursuant to the APA, 5 U.S.C.
553(d).
levels of government. NCUA has
determined the final rule does not
constitute a policy that has federalism
implications for purposes of the
Executive Order.
Regulatory Flexibility Act
The Treasury and General Government
Appropriations Act, 1999—Assessment
of Federal Regulations and Policies on
Families
The Regulatory Flexibility Act
requires NCUA to prepare an analysis to
describe any significant economic
impact a rule may have on a substantial
number of small credit unions (those
under ten million dollars in assets). This
final rule would not have a significant
economic impact on a substantial
number of small credit unions, and,
therefore, a regulatory flexibility
analysis is not required.
Paperwork Reduction Act
NCUA has determined that this final
rule would not increase paperwork
requirements under the Paperwork
Reduction Act of 1995 and regulations
of the Office of Management and
Budget.
Executive Order 13132
Executive Order 13132 encourages
independent regulatory agencies to
consider the impact of their regulatory
actions on state and local interests. In
adherence to fundamental federalism
principles, NCUA, an independent
regulatory agency as defined in 44
U.S.C. 3502(5), voluntarily complies
with the Executive Order. This final rule
will apply to all federally-insured credit
unions, but it will not have substantial
direct effects on the states, on the
relationship between the national
government and the states, or on the
distribution of power and
responsibilities among the various
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NCUA has determined that this rule
will not affect family well-being within
the meaning of section 654 of the
Treasury and General Government
Appropriations Act, 1999, Public Law
No. 105–277, 112 Stat. 2681 (1998).
Small Business Regulatory Enforcement
Fairness Act
The Small Business Regulatory
Enforcement Fairness Act of 1996
(SBREFA) (Pub. L. 104–121) provides
generally for congressional review of
agency rules. A reporting requirement is
triggered in instances where NCUA
issues a final rule as defined by Section
551 of the Administrative Procedures
Act. 5 U.S.C. 551. The Office of
Management and Budget has reviewed
this rule and has determined that for
purposes of SBREFA, it is not a major
rule.
List of Subjects in 12 CFR Part 747
Credit unions, Civil monetary
penalties.
By the National Credit Union
Administration Board on January 5, 2009.
Mary Rupp,
Secretary of the Board.
Accordingly, the NCUA amends 12
CFR part 747 as follows:
■
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Federal Register / Vol. 74, No. 41 / Wednesday, March 4, 2009 / Rules and Regulations
PART 747—ADMINISTRATIVE
ACTIONS, ADJUDICATIVE HEARINGS,
RULES OF PRACTICE AND
PROCEDURE, AND INVESTIGATIONS
1. The authority citation for part 747
continues to read as follows:
■
2. Subpart K is revised to read as
follows:
■
Subpart K—Inflation Adjustment of
Civil Monetary Penalties
§ 747.1001 Adjustment of civil money
penalties by the rate of inflation.
Authority: 12 U.S.C. 1766, 1782, 1784,
1785, 1786, 1787; 42 U.S.C. 4012a; Public
Law 101–410; Public Law 104–134.
(a) NCUA is required by the Federal
Civil Penalties Inflation Adjustment Act
U.S. code citation
Inadvertent failure to submit a report or the inadvertent submission of a false or misleading report.
Non-inadvertent failure to submit a report or
the non-inadvertent submission of a false or
misleading report.
Failure to submit a report or the submission of
a false or misleading report done knowingly
or with reckless disregard.
First tier ............................................................
Second tier .......................................................
Third tier ...........................................................
of 1990 (Pub. L. 101–410, 104 Stat. 890,
as amended (28 U.S.C. 2461 note)) to
adjust the maximum amount of each
civil money penalty within its
jurisdiction by the rate of inflation. The
following chart displays those
adjustments, as calculated pursuant to
the statute:
CMP description
(1) 12 U.S.C. 1782(a)(3) ....................................
(2) 12 U.S.C. 1782(a)(3) ....................................
(3) 12 U.S.C. 1782(a)(3) ....................................
(4) 12 U.S.C. 1782(d)(2)(A) ................................
(5) 12 U.S.C. 1782(d)(2)(B) ................................
(6) 12 U.S.C. 1782(d)(2)(C) ...............................
(7) 12 U.S.C. 1785(e)(3) ....................................
(8) 12 U.S.C. 1786(k)(2)(A) ................................
(9) 12 U.S.C. 1786(k)(2)(B) ................................
(10) 12 U.S.C. 1786(k)(2)(C) ..............................
(11) 42 U.S.C. 4012a(f) ......................................
BILLING CODE 7535–01–P
ENVIRONMENTAL PROTECTION
AGENCY
40 CFR Part 180
Per violation .....................................................
Per calendar year ............................................
EPA has established a
docket for this action under docket
identification (ID) number EPA–HQ–
OPP–2008–0258. All documents in the
docket are listed in the docket index
available at https://www.regulations.gov.
Although listed in the index, some
information is not publicly available,
e.g., Confidential Business Information
(CBI) or other information whose
disclosure is restricted by statute.
Certain other material, such as
copyrighted material, is not placed on
the Internet and will be publicly
available only in hard copy form.
Publicly available docket materials are
available in the electronic docket at
https://www.regulations.gov, or, if only
available in hard copy, at the OPP
Regulatory Public Docket in Rm. S–
ADDRESSES:
[EPA–HQ–OPP–2008–0258; FRL–8401–6]
Dimethomorph; Pesticide Tolerances
Environmental Protection
Agency (EPA).
ACTION: Final rule.
AGENCY:
SUMMARY: This regulation establishes
tolerances for residues of dimethomorph
in or on ginseng and turnip, greens.
Additionally, it establishes tolerances
with regional registrations in or on
beans, lima, succulent and grape. This
regulation also deletes the existing grape
import tolerance, as a regional tolerance
supersedes it. Finally, it increases the
existing tolerance level for potato, wet
peel and re-establishes the tolerance for
potato. The Interregional Research
15:05 Mar 03, 2009
Non-compliance with NCUA security regulations.
First tier ............................................................
Second tier .......................................................
Third tier ...........................................................
DATES: This regulation is effective
March 4, 2009. Objections and requests
for hearings must be received on or
before May 4, 2009, and must be filed
in accordance with the instructions
provided in 40 CFR part 178 (see also
Unit I.C. of the SUPPLEMENTARY
INFORMATION).
[FR Doc. E9–4608 Filed 3–3–09; 8:45 am]
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New maximum amount
Project Number 4 (IR-4) requested these
tolerances under the Federal Food,
Drug, and Cosmetic Act (FFDCA).
(b) The adjustments displayed in
paragraph (a) of this section apply to
acts occurring after the date of
publication in the Federal Register.
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9351
$2,200.
$22,000.
$1,300,000 or 1 percent of the total assets of
the credit union, whichever is less.
$2,200.
$22,000.
$1,300,000 or 1 percent of the total assets of
the credit union, whichever is less.
$110.
$7,500.
$37,500.
For a person other than an insured credit
union: $1,375,000;
For an insured credit union: $1,375,000 or 1
percent of the total assets of the credit
union, whichever is less.
$385.
$130,000.
4400, One Potomac Yard (South Bldg.),
2777 S. Crystal Dr., Arlington, VA. The
Docket Facility is open from 8:30 a.m.
to 4 p.m., Monday through Friday,
excluding legal holidays. The Docket
Facility telephone number is (703) 305–
5805.
FOR FURTHER INFORMATION CONTACT:
Laura Nollen, Registration Division
(7505P), Office of Pesticide Programs,
Environmental Protection Agency, 1200
Pennsylvania Ave., NW., Washington,
DC 20460–0001; telephone number:
(703) 305–7390; e-mail address:
nollen.laura@epa.gov.
SUPPLEMENTARY INFORMATION:
I. General Information
A. Does this Action Apply to Me?
You may be potentially affected by
this action if you are an agricultural
producer, food manufacturer, or
pesticide manufacturer. Potentially
affected entities may include, but are
not limited to those engaged in the
following activities:
• Crop production (NAICS code 111).
• Animal production (NAICS code
112).
• Food manufacturing (NAICS code
311).
E:\FR\FM\04MRR1.SGM
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]]>Agencies
[Federal Register Volume 74, Number 41 (Wednesday, March 4, 2009)]
[Rules and Regulations]
[Pages 9349-9351]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-4608]
-----------------------------------------------------------------------
NATIONAL CREDIT UNION ADMINISTRATION
12 CFR Part 747
Civil Monetary Penalty Inflation Adjustment
AGENCY: National Credit Union Administration.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The National Credit Union Administration (NCUA) is amending
its rules of practice and procedure to adjust the maximum amount of
each civil money penalty (CMP) within its jurisdiction to account for
inflation. This action, including the amount of the adjustment, is
required under the Federal Civil Penalties Inflation Adjustment Act of
1990, as amended by the Debt Collection Improvement Act of 1996.
DATES: Effective Date: March 4, 2009.
FOR FURTHER INFORMATION CONTACT: John K. Ianno, Associate General
Counsel, or Jon Canerday, Trial Attorney, Office of General Counsel,
NCUA, 1775 Duke Street, Alexandria, Virginia 22314, or telephone (703)
518-6540.
SUPPLEMENTARY INFORMATION:
A. Background
The Debt Collection Improvement Act of 1996 \1\ (DCIA) amended the
Federal Civil Penalties Inflation Adjustment Act of 1990 \2\ (FCPIA
Act) to require every Federal agency to enact regulations that adjust
each civil monetary penalty (CMP) provided by law under its
jurisdiction by the rate of inflation at least once every 4 years.
These periodic adjustments are to be calculated pursuant to the
inflation adjustment formula in section 5(b) of the FCPIA Act. Section
6 of the FCPIA Act specifies that inflation-adjusted CMPs will only
apply to violations that occur after the effective date of the
adjustment.
---------------------------------------------------------------------------
\1\ Public Law 104-134, 31001(s), 110 Stat. 1321-373, (Apr. 26,
1996). The provision is codified at 28 U.S.C. 2461 note.
\2\ Public Law 101-410, 104 Stat. 890, (Oct. 5, 1990), also
codified at 28 U.S.C. 2461 note.
---------------------------------------------------------------------------
The inflation adjustment is based on the percentage increase in the
Consumer Price Index for all urban consumers (CPI-U) published by the
Department of Labor.\3\ Specifically, section 5(b) of the FCPIA Act
defines the term ``cost-of-living adjustment'' as ``the percentage (if
any) for each civil monetary penalty by which--(1) the Consumer Price
Index for the month of June of the calendar year preceding the
adjustment, exceeds (2) the Consumer Price Index for the month of June
of the calendar year in which the amount of such civil monetary penalty
was last set or adjusted pursuant to law.'' The amount of each
inflation adjustment must then be rounded to a number prescribed by
section 5(a) of the FCPIA Act.
---------------------------------------------------------------------------
\3\ The CPI-U is published by the Department of Labor, Bureau of
Labor Statistics, and is available at its Web site: https://www.bls.gov/cpi/.
---------------------------------------------------------------------------
B. Mathematical Calculations of the Adjustments
NCUA last adjusted the CMPs it is authorized to impose in 2004. 69
FR 60080. Accordingly, the current adjustment of these CMPs will be the
percentage by which the CPI-U for the month of June 2007 exceeds the
CPI-U for the month of June 2004. According to the Bureau of Labor
Statistics, the CPI-U for the month of June 2004 was 189.7 and the CPI-
U for the month of June 2007 was 208.352. The percentage by which the
2007 figure exceeds the 2004 figure is 9.8 percent. Thus, the CMPs
should be multiplied by 9.8 percent, the resulting dollar amount
rounded up or down according to the rounding requirements of the FCPIA
Act, and then that amount added to the current penalty. In some cases,
the rounding rules resulted in no adjustment to the amount of the CMP.
In previous years, the Board has explained in detail the adjustment
procedure for each of the CMPs under its jurisdiction. Detailed
explanations were provided because some CMPs were adjusted for the
first time, requiring the use of different formulas. In view of the
fact that all of the CMPs were last adjusted in 2004, such detailed
explanations are no longer necessary. For that reason, and to be
consistent with the other banking agencies, the Board will show the
adjustments in table format. The following table shows both the present
CMPs, the adjustment methodology, and the CMPs after being adjusted for
inflation. The table published in 12 CFR 747.1001 shows only the
adjusted CMPs, not the calculations.
[[Page 9350]]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Amount of Amount of
Tier or description (if Current maximum Percentage increase increase--after Adjusted maximum
U.S. code citation applicable) penalty (in dollars) increase (in rounding \4\ penalty (in dollars)
dollars) (in dollars)
--------------------------------------------------------------------------------------------------------------------------------------------------------
12 U.S.C. 1782(a)(3)................ Inadvertent............ $2,200 \5\............ 9.8 $216 $0 No Change.
Non-inadvertent........ 22,000................ 9.8 2,156 0 No Change.
Intentional or reckless 1,175,000 (or 1% of 9.8 115,150 125,000 $1,300,000 (or 1% of
total assets). total assets).
12 U.S.C. 1782(d)(2)................ Tier 1................. 2,200................. 9.8 216 0 No Change.
Tier 2................. 22,000................ 9.8 2,156 0 No Change.
Tier 3................. 1,175,000 (or 1% of 9.8 115,150 125,000 1,300,000 (or 1% of
total assets). total assets).
12 U.S.C. 1785(e)(3)................ ....................... 110................... 9.8 11 0 No Change.
12 U.S.C. 1786(k)(2)................ Tier 1................. 6,500................. 9.8 637 1,000 7,500.
Tier 2................. 32,500................ 9.8 3,185 5,000 37,500.
Tier 3................. 1,250,000 (for natural 9.8 122,500 125,000 1,375,000 (for natural
person) 1,250,000 (or person) 1,375,000 (or
1% of total assets) 1% of total assets)
(for CU). (for CU).
42 U.S.C. 4012a(f).................. Per violation.......... 385................... 9.8 38 0 No Change.
Per year............... 120,000............... 9.8 11,760 10,000 130,000.
--------------------------------------------------------------------------------------------------------------------------------------------------------
The NCUA Board now adopts this final rule to adjust the forgoing
CMPs for the rate of inflation, as required by the FCPIA Act. As
provided in the final rule, the revised CMP amounts will only apply to
violations that occur after the effective date of the final rule.
---------------------------------------------------------------------------
\4\ The FCPIA Act's rounding rules require that an increase of a
CMP be rounded to the nearest multiple of: $10 in the case of
penalties less than or equal to $100; $100 in the case of penalties
greater than $100 but less than or equal to $1,000; $1,000 in the
case of penalties greater than $1,000 but less than or equal to
$10,000; $5,000 in the case of penalties greater than $10,000 but
less than or equal to $100,000; $10,000 in the case of penalties
greater than $100,000 but less than or equal to $200,000; and
$25,000 in the case of penalties greater than $200,000. Section 5(a)
of the FCPIA Act, 28 U.S.C. 2461 note.
\5\ Erroneously published in the Federal Register as $22,000.
---------------------------------------------------------------------------
C. Regulatory Procedures
Final Rule Under the Administrative Procedures Act
The FCPIA Act requires adjustments of CMPs for inflation to occur
at least every four years. The FCPIA Act provides federal agencies with
no discretion in the adjustment of CMPs for inflation. Thus, NCUA is
unable to vary the amount of the adjustments to reflect any views or
suggestions provided by commenters. Further, the regulation is
ministerial and technical. For all of these reasons, the NCUA Board
finds good cause to determine that public notice and comment for this
new regulation is unnecessary, impractical and contrary to the public
interest, pursuant to the Administrative Procedure Act (APA), 5 U.S.C.
553(b)(3)(B). These same reasons also provide the Board with good cause
to adopt an effective date for this regulation that is less than 30
days after the date of publication in the Federal Register, pursuant to
the APA, 5 U.S.C. 553(d).
Regulatory Flexibility Act
The Regulatory Flexibility Act requires NCUA to prepare an analysis
to describe any significant economic impact a rule may have on a
substantial number of small credit unions (those under ten million
dollars in assets). This final rule would not have a significant
economic impact on a substantial number of small credit unions, and,
therefore, a regulatory flexibility analysis is not required.
Paperwork Reduction Act
NCUA has determined that this final rule would not increase
paperwork requirements under the Paperwork Reduction Act of 1995 and
regulations of the Office of Management and Budget.
Executive Order 13132
Executive Order 13132 encourages independent regulatory agencies to
consider the impact of their regulatory actions on state and local
interests. In adherence to fundamental federalism principles, NCUA, an
independent regulatory agency as defined in 44 U.S.C. 3502(5),
voluntarily complies with the Executive Order. This final rule will
apply to all federally-insured credit unions, but it will not have
substantial direct effects on the states, on the relationship between
the national government and the states, or on the distribution of power
and responsibilities among the various levels of government. NCUA has
determined the final rule does not constitute a policy that has
federalism implications for purposes of the Executive Order.
The Treasury and General Government Appropriations Act, 1999--
Assessment of Federal Regulations and Policies on Families
NCUA has determined that this rule will not affect family well-
being within the meaning of section 654 of the Treasury and General
Government Appropriations Act, 1999, Public Law No. 105-277, 112 Stat.
2681 (1998).
Small Business Regulatory Enforcement Fairness Act
The Small Business Regulatory Enforcement Fairness Act of 1996
(SBREFA) (Pub. L. 104-121) provides generally for congressional review
of agency rules. A reporting requirement is triggered in instances
where NCUA issues a final rule as defined by Section 551 of the
Administrative Procedures Act. 5 U.S.C. 551. The Office of Management
and Budget has reviewed this rule and has determined that for purposes
of SBREFA, it is not a major rule.
List of Subjects in 12 CFR Part 747
Credit unions, Civil monetary penalties.
By the National Credit Union Administration Board on January 5,
2009.
Mary Rupp,
Secretary of the Board.
0
Accordingly, the NCUA amends 12 CFR part 747 as follows:
[[Page 9351]]
PART 747--ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, RULES OF
PRACTICE AND PROCEDURE, AND INVESTIGATIONS
0
1. The authority citation for part 747 continues to read as follows:
Authority: 12 U.S.C. 1766, 1782, 1784, 1785, 1786, 1787; 42
U.S.C. 4012a; Public Law 101-410; Public Law 104-134.
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2. Subpart K is revised to read as follows:
Subpart K--Inflation Adjustment of Civil Monetary Penalties
Sec. 747.1001 Adjustment of civil money penalties by the rate of
inflation.
(a) NCUA is required by the Federal Civil Penalties Inflation
Adjustment Act of 1990 (Pub. L. 101-410, 104 Stat. 890, as amended (28
U.S.C. 2461 note)) to adjust the maximum amount of each civil money
penalty within its jurisdiction by the rate of inflation. The following
chart displays those adjustments, as calculated pursuant to the
statute:
------------------------------------------------------------------------
U.S. code citation CMP description New maximum amount
------------------------------------------------------------------------
(1) 12 U.S.C. 1782(a)(3).... Inadvertent failure $2,200.
to submit a report
or the inadvertent
submission of a
false or misleading
report.
(2) 12 U.S.C. 1782(a)(3).... Non-inadvertent $22,000.
failure to submit a
report or the non-
inadvertent
submission of a
false or misleading
report.
(3) 12 U.S.C. 1782(a)(3).... Failure to submit a $1,300,000 or 1
report or the percent of the
submission of a total assets of the
false or misleading credit union,
report done whichever is less.
knowingly or with
reckless disregard.
(4) 12 U.S.C. 1782(d)(2)(A). First tier.......... $2,200.
(5) 12 U.S.C. 1782(d)(2)(B). Second tier......... $22,000.
(6) 12 U.S.C. 1782(d)(2)(C). Third tier.......... $1,300,000 or 1
percent of the
total assets of the
credit union,
whichever is less.
(7) 12 U.S.C. 1785(e)(3).... Non-compliance with $110.
NCUA security
regulations.
(8) 12 U.S.C. 1786(k)(2)(A). First tier.......... $7,500.
(9) 12 U.S.C. 1786(k)(2)(B). Second tier......... $37,500.
(10) 12 U.S.C. 1786(k)(2)(C) Third tier.......... For a person other
than an insured
credit union:
$1,375,000;
For an insured
credit union:
$1,375,000 or 1
percent of the
total assets of the
credit union,
whichever is less.
(11) 42 U.S.C. 4012a(f)..... Per violation....... $385.
Per calendar year... $130,000.
------------------------------------------------------------------------
(b) The adjustments displayed in paragraph (a) of this section
apply to acts occurring after the date of publication in the Federal
Register.
[FR Doc. E9-4608 Filed 3-3-09; 8:45 am]
BILLING CODE 7535-01-P
