Notification of Inflation Adjustments for Civil Money Penalties, 66599-66601 [2018-27784]
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Federal Register / Vol. 83, No. 247 / Thursday, December 27, 2018 / Rules and Regulations
If the level of activity in the report was:
And the report was filed late, the civil money penalty
is:
Or the report was not filed, the civil money penalty is:
$950,000 or over ........................
[$10,901 + ($290 × Number of days late)] × [1 + (.25
× Number of previous violations)].
$23,254 × [1 + (.25 × Number of previous violations)].
a The
civil money penalty for a respondent who does not have any previous violations will not exceed the level of activity in the report.
(c) If the respondent fails to file a
required report and the Commission
cannot calculate the level of activity
under paragraph (d) of this section, then
the civil money penalty shall be $7,994.
*
*
*
*
*
§ 111.44
[Amended]
4. Amend § 111.44(a)(1) by removing
‘‘$142’’ and adding in its place ‘‘$146’’.
■
On behalf of the Commission.
Dated: December 18, 2018.
Caroline C. Hunter,
Chair, Federal Election Commission.
[FR Doc. 2018–27801 Filed 12–26–18; 8:45 am]
BILLING CODE 6715–01–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Parts 19 and 109
Notification of Inflation Adjustments
for Civil Money Penalties
Office of the Comptroller of the
Currency, Treasury.
ACTION: Notification of Monetary
Penalties 2019.
AGENCY:
The Office of the Comptroller
of the Currency (OCC) is providing
notice of its maximum civil money
penalties as adjusted for inflation. The
inflation adjustments are required to
implement the Federal Civil Penalties
SUMMARY:
Inflation Adjustment Act of 1990, as
amended by the Federal Civil Penalties
Inflation Adjustment Act Improvements
Act of 2015.
DATES: The adjusted maximum amount
of civil money penalties in this
document are applicable to penalties
assessed on or after January 1, 2019, for
conduct occurring on or after November
2, 2015.
FOR FURTHER INFORMATION CONTACT: Lee
Walzer, Counsel, Chief Counsel’s Office,
(202) 649–5490, or, for persons who are
deaf or hearing impaired, TTY, (202)
649–5597, Office of the Comptroller of
the Currency.
SUPPLEMENTARY INFORMATION:
This document announces changes to
the maximum amount of each civil
money penalty (CMP) within the OCC’s
jurisdiction to administer to account for
inflation pursuant to the Federal Civil
Penalties Inflation Adjustment Act of
1990 (the 1990 Adjustment Act),1 as
amended by the Federal Civil Penalties
Inflation Adjustment Act Improvements
Act of 2015 (the 2015 Adjustment Act).2
Under the 1990 Adjustment Act, as
amended, federal agencies must make
annual adjustments to the maximum
amount of each CMP the agency
administers. The Office of Management
and Budget (OMB) is required to issue
guidance to federal agencies no later
than December 15 of each year
providing an inflation adjustment
multiplier (i.e. the inflation adjustment
factor agencies must use) applicable to
CMPs assessed in the following year.
The agencies are required to publish
their CMPs, adjusted pursuant to the
multiplier provided by OMB, by January
15 of the applicable year.
To the extent an agency has codified
a CMP amount in its regulations, the
agency would need to update that
amount by regulation. However, if an
agency has codified the formula for
making the CMP adjustments, then
subsequent adjustments can be made
solely by notice.3 In 2017, the OCC
codified the formula for making CMP
adjustments in its rules.4 In 2018, the
OCC published a final regulation to
remove the CMP amounts from its
regulations, while updating those
amounts for inflation through the notice
process.5
On December 14, 2018, the OMB
issued guidance to affected agencies on
implementing the required annual
adjustment, which included the relevant
inflation multiplier.6 The OCC has
applied that multiplier to the maximum
CMPs allowable in 2018 for national
banks and federal savings associations
as listed in the 2018 CMP notice to
calculate the maximum amount of CMPs
that may be assessed by the OCC in
2019.7 There were no new statutory
CMPs administered by the OCC during
2018.
The following charts provide the
inflation-adjusted CMPs for use
beginning on January 1, 2019, pursuant
to 12 CFR 19.240(b) and 109.103(c) for
conduct occurring on or after November
2, 2015:
PENALTIES APPLICABLE TO NATIONAL BANKS
Description and Tier
(if applicable)
12 U.S.C. 93(b) .......................................
Violation of Various Provisions of the National Bank Act:
Tier 1 ........................................................................................................................
Tier 2 ........................................................................................................................
Tier 3 ........................................................................................................................
Violation of Reporting Requirements:
Tier 1 ........................................................................................................................
Tier 2 ........................................................................................................................
12 U.S.C. 164 ..........................................
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Maximum
Penalty Amount
(in Dollars) 1
U.S. Code Citation
1 Pub. L. 101–410, Oct. 5, 1990, 104 Stat. 890,
codified at 28 U.S.C. 2461 note.
2 Pub. L. 114–74, Title VII, section 701(b), Nov.
2, 2015, 129 Stat. 599, codified at 28 U.S.C. 2461
note.
3 See OMB Memorandum M–18–03,
‘‘Implementation of the 2018 Annual Adjustment
Pursuant to the Federal Civil Penalties Inflation
Adjustment Act Improvements Act of 2015’’ at 4,
VerDate Sep<11>2014
16:19 Dec 26, 2018
Jkt 247001
which permits agencies that have codified the
formula to adjust CMPs for inflation to update the
penalties through a notice rather than a regulation.
4 82 FR 8584 (January 27, 2017).
5 83 FR 1517 (January 12, 2018) (final rule); 83 FR
1657 (Jan. 12, 2018) (2018 CMP Notice).
6 The inflation adjustment multiplier for 2019 is
1.02522. See OMB Memorandum M–19–04,
‘‘Implementation of Penalty Inflation Adjustments
PO 00000
Frm 00043
Fmt 4700
Sfmt 4700
10,067
50,334
2 2,013,399
4,027
40,269
for 2019, Pursuant to the Federal Civil Penalties
Inflation Adjust Act Improvements Act of 2015’’ at
1 (Dec. 14, 2018).
7 Penalties assessed for violations occurring prior
to November 2, 2015, will be subject to the
maximum amounts set forth in the OCC’s
regulations in effect prior to the enactment of the
2015 Adjustment Act.
E:\FR\FM\27DER1.SGM
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Federal Register / Vol. 83, No. 247 / Thursday, December 27, 2018 / Rules and Regulations
PENALTIES APPLICABLE TO NATIONAL BANKS—Continued
Maximum
Penalty Amount
(in Dollars) 1
Description and Tier
(if applicable)
U.S. Code Citation
12 U.S.C. 481 ..........................................
12 U.S.C. 504 ..........................................
12 U.S.C. 1817(j)(16) ..............................
12 U.S.C. 1818(i)(2) 3 ..............................
12 U.S.C. 1820(k)(6)(A)(ii) ......................
12 U.S.C. 1832(c) ...................................
12 U.S.C. 1884 ........................................
12 U.S.C. 1972(2)(F) ...............................
12 U.S.C. 3110(a) ...................................
12 U.S.C. 3110(c) ...................................
12 U.S.C. 3909(d)(1) ...............................
15 U.S.C. 78u–2(b) .................................
15 U.S.C. 1639e(k) .................................
42 U.S.C. 4012a(f)(5) ..............................
Tier 3 ........................................................................................................................
Refusal of Affiliate to Cooperate in Examination
Violation of Various Provisions of the Federal Reserve Act:
Tier 1 ........................................................................................................................
Tier 2 ........................................................................................................................
Tier 3 ........................................................................................................................
Violation of Change in Bank Control Act:
Tier 1 ........................................................................................................................
Tier 2 ........................................................................................................................
Tier 32 2,013,399.
Violation of Law, Unsafe or Unsound Practice, or Breach of Fiduciary Duty: ........
Tier 1 ........................................................................................................................
Tier 2 ........................................................................................................................
Tier 3 ........................................................................................................................
Violation of Post-Employment Restrictions:
Per violation
Violation of Withdrawals by Negotiable or Transferable Instrument for Transfers
to Third Parties:
Per violation
Violation of the Bank Protection Act
Violation of Anti-Tying Provisions regarding Correspondent Accounts, Unsafe or
Unsound Practices, or Breach of Fiduciary Duty:
Tier 1 ........................................................................................................................
Tier 2 ........................................................................................................................
Tier 3 ........................................................................................................................
Violation of Various Provisions of the International Banking Act (Federal
Branches and Agencies):
Violation of Reporting Requirements of the International Banking Act (Federal
Branches and Agencies):.
Tier 1 ........................................................................................................................
Tier 2 ........................................................................................................................
Tier 3 ........................................................................................................................
Violation of International Lending Supervision Act
Violation of Various Provisions of the Securities Act, the Securities Exchange
Act, the Investment Company Act, or the Investment Advisers Act:
Tier 1 (natural person)—Per violation .....................................................................
Tier 1 (other person)—Per violation ........................................................................
Tier 2 (natural person)—Per violation .....................................................................
Tier 2 (other person)—Per violation ........................................................................
Tier 3 (natural person)—Per violation .....................................................................
Tier 3 (other person)—Per violation ........................................................................
Violation of Appraisal Independence Requirements:
First violation ............................................................................................................
Subsequent violations ..............................................................................................
Flood Insurance: ......................................................................................................
Per violation .............................................................................................................
2 2,013,399
10,067
10,067
50,334
2 2,013,399
10,067
50,334
10,067
50,334
2 2,013,399
331,174
2,924
292
10,067
50,334
2 2,013,399
46,013
3,682
36,809
2 1,840,491
2,505
9,472
94,713
94,713
473,566
189,427
947,130
11,563
23,125
2,187
1 The
maximum penalty amount is per day, unless otherwise indicated.
2 The maximum penalty amount for a national bank is the lesser of this amount or 1 percent of total assets.
3 These amounts also apply to CMPs in statutes that cross-reference 12 U.S.C. 1818, such as 12 U.S.C. 2804, 3108, 3349, 4309, and 4717
and 15 U.S.C. 1607, 1693o, 1681s, 1691c, and 1692l.
khammond on DSK30JT082PROD with RULES
PENALTIES APPLICABLE TO FEDERAL SAVINGS ASSOCIATIONS
Maximum
Penalty
Amount
(in Dollars) 1
U.S. Code Citation
CMP Description
12 U.S.C. 1464(v) ...................................
Reports of Condition:
1st Tier .....................................................................................................................
2nd Tier ....................................................................................................................
3rd Tier ....................................................................................................................
Refusal of Affiliate to Cooperate in Examination
Late/Inaccurate Reports: .........................................................................................
1st Tier .....................................................................................................................
2nd Tier ....................................................................................................................
3rd Tier ....................................................................................................................
Violation of Change in Bank Control Act:
Tier 1 ........................................................................................................................
Tier 2 ........................................................................................................................
12 U.S.C. 1467(d) ...................................
12 U.S.C. 1467a(r) ..................................
12 U.S.C. 1817(j)(16) ..............................
VerDate Sep<11>2014
16:19 Dec 26, 2018
Jkt 247001
PO 00000
Frm 00044
Fmt 4700
Sfmt 4700
E:\FR\FM\27DER1.SGM
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4,027
40,269
2 2,013,399
10,067
4,027
40,269
2 2,013,399
10,067
50,334
66601
Federal Register / Vol. 83, No. 247 / Thursday, December 27, 2018 / Rules and Regulations
PENALTIES APPLICABLE TO FEDERAL SAVINGS ASSOCIATIONS—Continued
U.S. Code Citation
Maximum
Penalty
Amount
(in Dollars) 1
CMP Description
12 U.S.C. 1818(i)(2) 3 ..............................
12 U.S.C. 1820(k)(6)(A)(ii) ......................
12 U.S.C. 1832(c) ...................................
12 U.S.C. 1884 ........................................
12 U.S.C. 1972(2)(F) ...............................
15 U.S.C. 78u–2(b) .................................
15 U.S.C. 1639e(k) .................................
42 U.S.C. 4012a(f)(5) ..............................
Tier 3 ........................................................................................................................
Violation of Law, Unsafe or Unsound Practice, or Breach of Fiduciary Duty
Tier 1 ........................................................................................................................
Tier 2 ........................................................................................................................
Tier 3 ........................................................................................................................
Violation of Post-Employment Restrictions:
Per violation .............................................................................................................
Violation of Withdrawals by Negotiable or Transferable Instruments for Transfers
to Third Parties:
Per violation .............................................................................................................
Violation of the Bank Protection Act ........................................................................
Violation of Provisions regarding Correspondent Accounts, Unsafe or Unsound
Practices, or Breach of Fiduciary Duty:.
Tier 1 ........................................................................................................................
Tier 2 ........................................................................................................................
Tier 3 ........................................................................................................................
Violations of Various Provisions of the Securities Act, the Securities Exchange
Act, the Investment Company Act, or the Investment Advisers Act:
1st Tier (natural person)—Per violation ..................................................................
1st Tier (other person)—Per violation .....................................................................
2nd Tier (natural person)—Per violation .................................................................
2nd Tier (other person)—Per violation ....................................................................
3rd Tier (natural person)—Per violation ..................................................................
3rd Tier (other person)—Per violation .....................................................................
Violation of Appraisal Independence Requirements:
First violation ............................................................................................................
Subsequent violations ..............................................................................................
Flood Insurance:
Per violation .............................................................................................................
2 2,013,399
10,067
50,334
2 2,013,399
331,174
2,658
292
10,067
50,334
2 2,013,399
9,472
94,713
94,713
473,566
189,427
947,130
11,563
23,125
2,187
1 The
maximum penalty amount is per day, unless otherwise indicated.
2 The maximum penalty amount for a federal savings association is the lesser of this amount or 1 percent of total assets.
3 These amounts also apply to statutes that cross-reference 12 U.S.C. 1818, such as 12 U.S.C. 2804, 3108, 3349, 4309, and 4717 and 15
U.S.C. 1607, 1681s, 1691c, and 1692l.
Dated: December 18, 2018.
Bao Nguyen,
Acting Senior Deputy Comptroller and Chief
Counsel, Office of the Comptroller of the
Currency.
[FR Doc. 2018–27784 Filed 12–26–18; 8:45 am]
ACTION:
Office of the Comptroller of the
Currency
SUMMARY:
12 CFR Parts 25 and 195
[Docket ID OCC–2018–0033]
BILLING CODE 4810–33–P
RIN 1557–AE54
FEDERAL RESERVE SYSTEM
12 CFR Part 228
[Regulation BB; Docket No. R–1642]
RIN 7100–AF32
FEDERAL DEPOSIT INSURANCE
CORPORATION
khammond on DSK30JT082PROD with RULES
RIN 3064–AE97
Community Reinvestment Act
Regulations
Office of the Comptroller of the
Currency, Treasury (OCC); Board of
Governors of the Federal Reserve
System (Board); and Federal Deposit
Insurance Corporation (FDIC).
AGENCY:
16:19 Dec 26, 2018
Jkt 247001
PO 00000
Frm 00045
Fmt 4700
The OCC, the Board, and the
FDIC (collectively, the Agencies) are
amending their Community
Reinvestment Act (CRA) regulations to
adjust the asset-size thresholds used to
define ‘‘small bank’’ or ‘‘small savings
association’’ and ‘‘intermediate small
bank’’ or ‘‘intermediate small savings
association.’’ As required by the CRA
regulations, the adjustment to the
threshold amount is based on the
annual percentage change in the
Consumer Price Index for Urban Wage
Earners and Clerical Workers (CPI–W).
DATES:
Effective Date: January 1, 2019.
FOR FURTHER INFORMATION CONTACT:
12 CFR Part 345
VerDate Sep<11>2014
Joint final rule; technical
amendment.
DEPARTMENT OF THE TREASURY
Sfmt 4700
OCC: Emily Boyes, Senior Attorney or
Daniel Sufranski, Attorney, Chief
Counsel’s Office, (202) 649–5490; for
persons who are deaf or hearing
impaired, TTY, (202) 649–5597; or
Vonda Eanes, Director for CRA and Fair
Lending Policy, Compliance Risk Policy
Division, (202) 649–5470, Office of the
Comptroller of the Currency, 400 7th
Street SW, Washington, DC 20219.
E:\FR\FM\27DER1.SGM
27DER1
]]>Agencies
[Federal Register Volume 83, Number 247 (Thursday, December 27, 2018)]
[Rules and Regulations]
[Pages 66599-66601]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-27784]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
12 CFR Parts 19 and 109
Notification of Inflation Adjustments for Civil Money Penalties
AGENCY: Office of the Comptroller of the Currency, Treasury.
ACTION: Notification of Monetary Penalties 2019.
-----------------------------------------------------------------------
SUMMARY: The Office of the Comptroller of the Currency (OCC) is
providing notice of its maximum civil money penalties as adjusted for
inflation. The inflation adjustments are required to implement the
Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by
the Federal Civil Penalties Inflation Adjustment Act Improvements Act
of 2015.
DATES: The adjusted maximum amount of civil money penalties in this
document are applicable to penalties assessed on or after January 1,
2019, for conduct occurring on or after November 2, 2015.
FOR FURTHER INFORMATION CONTACT: Lee Walzer, Counsel, Chief Counsel's
Office, (202) 649-5490, or, for persons who are deaf or hearing
impaired, TTY, (202) 649-5597, Office of the Comptroller of the
Currency.
SUPPLEMENTARY INFORMATION:
This document announces changes to the maximum amount of each civil
money penalty (CMP) within the OCC's jurisdiction to administer to
account for inflation pursuant to the Federal Civil Penalties Inflation
Adjustment Act of 1990 (the 1990 Adjustment Act),\1\ as amended by the
Federal Civil Penalties Inflation Adjustment Act Improvements Act of
2015 (the 2015 Adjustment Act).\2\ Under the 1990 Adjustment Act, as
amended, federal agencies must make annual adjustments to the maximum
amount of each CMP the agency administers. The Office of Management and
Budget (OMB) is required to issue guidance to federal agencies no later
than December 15 of each year providing an inflation adjustment
multiplier (i.e. the inflation adjustment factor agencies must use)
applicable to CMPs assessed in the following year. The agencies are
required to publish their CMPs, adjusted pursuant to the multiplier
provided by OMB, by January 15 of the applicable year.
---------------------------------------------------------------------------
\1\ Pub. L. 101-410, Oct. 5, 1990, 104 Stat. 890, codified at 28
U.S.C. 2461 note.
\2\ Pub. L. 114-74, Title VII, section 701(b), Nov. 2, 2015, 129
Stat. 599, codified at 28 U.S.C. 2461 note.
---------------------------------------------------------------------------
To the extent an agency has codified a CMP amount in its
regulations, the agency would need to update that amount by regulation.
However, if an agency has codified the formula for making the CMP
adjustments, then subsequent adjustments can be made solely by
notice.\3\ In 2017, the OCC codified the formula for making CMP
adjustments in its rules.\4\ In 2018, the OCC published a final
regulation to remove the CMP amounts from its regulations, while
updating those amounts for inflation through the notice process.\5\
---------------------------------------------------------------------------
\3\ See OMB Memorandum M-18-03, ``Implementation of the 2018
Annual Adjustment Pursuant to the Federal Civil Penalties Inflation
Adjustment Act Improvements Act of 2015'' at 4, which permits
agencies that have codified the formula to adjust CMPs for inflation
to update the penalties through a notice rather than a regulation.
\4\ 82 FR 8584 (January 27, 2017).
\5\ 83 FR 1517 (January 12, 2018) (final rule); 83 FR 1657 (Jan.
12, 2018) (2018 CMP Notice).
---------------------------------------------------------------------------
On December 14, 2018, the OMB issued guidance to affected agencies
on implementing the required annual adjustment, which included the
relevant inflation multiplier.\6\ The OCC has applied that multiplier
to the maximum CMPs allowable in 2018 for national banks and federal
savings associations as listed in the 2018 CMP notice to calculate the
maximum amount of CMPs that may be assessed by the OCC in 2019.\7\
There were no new statutory CMPs administered by the OCC during 2018.
---------------------------------------------------------------------------
\6\ The inflation adjustment multiplier for 2019 is 1.02522. See
OMB Memorandum M-19-04, ``Implementation of Penalty Inflation
Adjustments for 2019, Pursuant to the Federal Civil Penalties
Inflation Adjust Act Improvements Act of 2015'' at 1 (Dec. 14,
2018).
\7\ Penalties assessed for violations occurring prior to
November 2, 2015, will be subject to the maximum amounts set forth
in the OCC's regulations in effect prior to the enactment of the
2015 Adjustment Act.
---------------------------------------------------------------------------
The following charts provide the inflation-adjusted CMPs for use
beginning on January 1, 2019, pursuant to 12 CFR 19.240(b) and
109.103(c) for conduct occurring on or after November 2, 2015:
Penalties Applicable to National Banks
------------------------------------------------------------------------
Maximum Penalty
U.S. Code Citation Description and Tier Amount (in
(if applicable) Dollars) \1\
------------------------------------------------------------------------
12 U.S.C. 93(b)............... Violation of Various
Provisions of the
National Bank Act:
Tier 1............... 10,067
Tier 2............... 50,334
Tier 3............... \2\ 2,013,399
12 U.S.C. 164................. Violation of
Reporting
Requirements:
Tier 1............... 4,027
Tier 2............... 40,269
[[Page 66600]]
Tier 3............... \2\ 2,013,399
12 U.S.C. 481................. Refusal of Affiliate 10,067
to Cooperate in
Examination
12 U.S.C. 504................. Violation of Various
Provisions of the
Federal Reserve Act:
Tier 1............... 10,067
Tier 2............... 50,334
Tier 3............... \2\ 2,013,399
12 U.S.C. 1817(j)(16)......... Violation of Change
in Bank Control Act:
Tier 1............... 10,067
Tier 2............... 50,334
Tier 3\2\ 2,013,399..
12 U.S.C. 1818(i)(2) \3\...... Violation of Law,
Unsafe or Unsound
Practice, or Breach
of Fiduciary Duty:.
Tier 1............... 10,067
Tier 2............... 50,334
Tier 3............... \2\ 2,013,399
12 U.S.C. 1820(k)(6)(A)(ii)... Violation of Post-
Employment
Restrictions:
Per violation 331,174
12 U.S.C. 1832(c)............. Violation of
Withdrawals by
Negotiable or
Transferable
Instrument for
Transfers to Third
Parties:
Per violation 2,924
12 U.S.C. 1884................ Violation of the Bank 292
Protection Act
12 U.S.C. 1972(2)(F).......... Violation of Anti-
Tying Provisions
regarding
Correspondent
Accounts, Unsafe or
Unsound Practices,
or Breach of
Fiduciary Duty:
Tier 1............... 10,067
Tier 2............... 50,334
Tier 3............... \2\ 2,013,399
12 U.S.C. 3110(a)............. Violation of Various 46,013
Provisions of the
International
Banking Act (Federal
Branches and
Agencies):
12 U.S.C. 3110(c)............. Violation of
Reporting
Requirements of the
International
Banking Act (Federal
Branches and
Agencies):.
Tier 1............... 3,682
Tier 2............... 36,809
Tier 3............... \2\ 1,840,491
12 U.S.C. 3909(d)(1).......... Violation of 2,505
International
Lending Supervision
Act
15 U.S.C. 78u-2(b)............ Violation of Various
Provisions of the
Securities Act, the
Securities Exchange
Act, the Investment
Company Act, or the
Investment Advisers
Act:
Tier 1 (natural 9,472
person)--Per
violation.
Tier 1 (other 94,713
person)--Per
violation.
Tier 2 (natural 94,713
person)--Per
violation.
Tier 2 (other 473,566
person)--Per
violation.
Tier 3 (natural 189,427
person)--Per
violation.
Tier 3 (other 947,130
person)--Per
violation.
15 U.S.C. 1639e(k)............ Violation of
Appraisal
Independence
Requirements:
First violation...... 11,563
Subsequent violations 23,125
42 U.S.C. 4012a(f)(5)......... Flood Insurance:.....
Per violation........ 2,187
------------------------------------------------------------------------
\1\ The maximum penalty amount is per day, unless otherwise indicated.
\2\ The maximum penalty amount for a national bank is the lesser of this
amount or 1 percent of total assets.
\3\ These amounts also apply to CMPs in statutes that cross-reference 12
U.S.C. 1818, such as 12 U.S.C. 2804, 3108, 3349, 4309, and 4717 and 15
U.S.C. 1607, 1693o, 1681s, 1691c, and 1692l.
Penalties Applicable to Federal Savings Associations
------------------------------------------------------------------------
Maximum Penalty
U.S. Code Citation CMP Description Amount (in
Dollars) \1\
------------------------------------------------------------------------
12 U.S.C. 1464(v)............. Reports of Condition:
1st Tier............. 4,027
2nd Tier............. 40,269
3rd Tier............. \2\ 2,013,399
12 U.S.C. 1467(d)............. Refusal of Affiliate 10,067
to Cooperate in
Examination
12 U.S.C. 1467a(r)............ Late/Inaccurate
Reports:.
1st Tier............. 4,027
2nd Tier............. 40,269
3rd Tier............. \2\ 2,013,399
12 U.S.C. 1817(j)(16)......... Violation of Change
in Bank Control Act:
Tier 1............... 10,067
Tier 2............... 50,334
[[Page 66601]]
Tier 3............... \2\ 2,013,399
12 U.S.C. 1818(i)(2) \3\...... Violation of Law,
Unsafe or Unsound
Practice, or Breach
of Fiduciary Duty
Tier 1............... 10,067
Tier 2............... 50,334
Tier 3............... \2\ 2,013,399
12 U.S.C. 1820(k)(6)(A)(ii)... Violation of Post-
Employment
Restrictions:
Per violation........ 331,174
12 U.S.C. 1832(c)............. Violation of
Withdrawals by
Negotiable or
Transferable
Instruments for
Transfers to Third
Parties:
Per violation........ 2,658
12 U.S.C. 1884................ Violation of the Bank 292
Protection Act.
12 U.S.C. 1972(2)(F).......... Violation of
Provisions regarding
Correspondent
Accounts, Unsafe or
Unsound Practices,
or Breach of
Fiduciary Duty:.
Tier 1............... 10,067
Tier 2............... 50,334
Tier 3............... \2\ 2,013,399
15 U.S.C. 78u-2(b)............ Violations of Various
Provisions of the
Securities Act, the
Securities Exchange
Act, the Investment
Company Act, or the
Investment Advisers
Act:
1st Tier (natural 9,472
person)--Per
violation.
1st Tier (other 94,713
person)--Per
violation.
2nd Tier (natural 94,713
person)--Per
violation.
2nd Tier (other 473,566
person)--Per
violation.
3rd Tier (natural 189,427
person)--Per
violation.
3rd Tier (other 947,130
person)--Per
violation.
15 U.S.C. 1639e(k)............ Violation of
Appraisal
Independence
Requirements:
First violation...... 11,563
Subsequent violations 23,125
42 U.S.C. 4012a(f)(5)......... Flood Insurance:
Per violation........ 2,187
------------------------------------------------------------------------
\1\ The maximum penalty amount is per day, unless otherwise indicated.
\2\ The maximum penalty amount for a federal savings association is the
lesser of this amount or 1 percent of total assets.
\3\ These amounts also apply to statutes that cross-reference 12 U.S.C.
1818, such as 12 U.S.C. 2804, 3108, 3349, 4309, and 4717 and 15 U.S.C.
1607, 1681s, 1691c, and 1692l.
Dated: December 18, 2018.
Bao Nguyen,
Acting Senior Deputy Comptroller and Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2018-27784 Filed 12-26-18; 8:45 am]
BILLING CODE 4810-33-P
