Notification of Inflation Adjustments for Civil Money Penalties, 66599-66601 [2018-27784]

Download as PDF 66599 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 .......................................... khammond on DSK30JT082PROD with RULES 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 27DER1 66600 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 27DER1 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]


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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