Civil Monetary Penalty Inflation Adjustment, 9349-9351 [E9-4608]

Download as PDF Federal Register / Vol. 74, No. 41 / Wednesday, March 4, 2009 / Rules and Regulations § 740.1 Definitions. * * * * * (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. * * * * * (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 VerDate Nov<24>2008 15:05 Mar 03, 2009 Jkt 217001 nonfederally insured credit union may display the official NCUA sign. * * * * * [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. PO 00000 Frm 00007 Fmt 4700 Sfmt 4700 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: http://www.bls.gov/cpi/. E:\FR\FM\04MRR1.SGM 04MRR1 9350 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. VerDate Nov<24>2008 15:05 Mar 03, 2009 Jkt 217001 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 PO 00000 Frm 00008 Fmt 4700 Sfmt 4700 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: ■ E:\FR\FM\04MRR1.SGM 04MRR1 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 http://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 http://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] VerDate Nov<24>2008 Jkt 217001 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. PO 00000 Frm 00009 Fmt 4700 Sfmt 4700 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 04MRR1

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: http://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.


0
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