Notification of Inflation Adjustments for Civil Money Penalties, 71735-71737 [2019-28053]

Download as PDF 71735 Rules and Regulations Federal Register Vol. 84, No. 249 Monday, December 30, 2019 This section of the FEDERAL REGISTER contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510. The Code of Federal Regulations is sold by the Superintendent of Documents. Good Cause To Dispense With Notice and Public Procedure Office of the Comptroller of the Currency 12 CFR Parts 3, 6, 34, 46, 160, 161, 163, and 167 [Docket ID OCC–2019–0004] RIN 1557–AE50 Other Real Estate Owned and Technical Amendments; Correction Office of the Comptroller of the Currency, Treasury. ACTION: Final rule; correction. AGENCY: On October 22, 2019, the Office of the Comptroller of the Currency (OCC) published in the Federal Register a final rule to revise the other real estate owned rule and make related technical amendments. The final rule had an effective date of December 1, 2019. On November 21, 2019, the OCC published a correction to that final rule in the Federal Register amending the final rule’s effective date to January 1, 2020. This document corrects and supplements the November 21, 2019, final rule. DATES: Effective January 1, 2020. FOR FURTHER INFORMATION CONTACT: Kevin Korzeniewski, Counsel, or J. William Binkley, Attorney, Chief Counsel’s Office, (202) 649–5490; or for persons who are hearing impaired, TTY, (202) 649–5597. SUPPLEMENTARY INFORMATION: SUMMARY: khammond on DSKJM1Z7X2PROD with RULES I. Background On October 22, 2019, the OCC published in the Federal Register a final rule to revise its rule on other real estate owned (OREO) at 12 CFR part 34, subpart E, and make related technical amendments (OREO final rule).1 On November 21, 2019, the OCC published a correction to the OREO final rule in the Federal Register amending the FR 56369 (Oct. 22, 2019). VerDate Sep<11>2014 16:33 Dec 27, 2019 The OCC ordinarily publishes a notice of proposed rulemaking in the Federal Register to provide for notice and public procedure before the provisions of a rule take effect in accordance with section 553(b) of the Administrative Procedure Act (5 U.S.C. 553(b)). Nevertheless, an agency can dispense with this notice and public procedure if it finds, for good cause, that the notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest and incorporates a statement of its findings and reasons in the final rule. The OCC finds that that there is good cause to dispense with notice and public procedure requirements in this final rule and the November 21, 2019, final rule because they are unnecessary. The November 21, 2019, final rule merely delayed the effective date of the OREO final rule to January 1, 2020, that was previously subjected to notice and public procedure. The delayed effective date avoids confusion about adopting different effective dates for national banks and Federal savings associations. This final rule merely supplements the regulatory analyses for the November 21, 2019, final rule. Therefore, the OCC finds it unnecessary to undertake further notice and public procedure with respect to this final rule and the November 21, 2019, final rule. Congressional Review Act Pursuant to the Congressional Review Act, the Office of Management and Budget will determine if this final rule and the November 21,2019, final rule are not ‘‘major rules,’’ as defined at 5 U.S.C. 804(2). As required by the Congressional Review Act, the OCC will submit the final rules and other appropriate reports to Congress and the Government Accountability Office for review. 2 84 Jkt 250001 Dated: December 20, 2019. Morris R. Morgan, First Deputy Comptroller, Comptroller of the Currency. [FR Doc. 2019–28054 Filed 12–27–19; 8:45 am] BILLING CODE 4810–33–P II. Additional Regulatory Analyses DEPARTMENT OF TREASURY 1 84 OREO final rule’s effective date to January 1, 2020 (the November 21, 2019, final rule).2 This document corrects and supplements the November 21, 2019, final rule with the additional regulatory analyses below. PO 00000 FR 64193 (Nov. 21, 2019). Frm 00001 Fmt 4700 Sfmt 4700 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 2020. 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 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, 2020, 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 SUMMARY: 1 Public Law 101–410, Oct. 5, 1990, 104 Stat. 890, codified at 28 U.S.C. 2461 note. 2 Public Law 114–74, Title VII, section 701(b), Nov. 2, 2015, 129 Stat. 599, codified at 28 U.S.C. 2461 note. E:\FR\FM\30DER1.SGM 30DER1 71736 Federal Register / Vol. 84, No. 249 / Monday, December 30, 2019 / Rules and Regulations 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 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.4 On December 16, 2019, the OMB issued guidance to affected agencies on implementing the required annual adjustment, which included the relevant inflation multiplier.5 The OCC has applied that multiplier to the maximum CMPs allowable in 2019 for national banks and Federal savings associations as listed in the 2019 CMP notice 6 to calculate the maximum amount of CMPs that may be assessed by the OCC in 2020.7 There were no new statutory CMPs administered by the OCC during 2019. The following charts provide the inflation-adjusted CMPs for use beginning on January 1, 2020, pursuant to 12 CFR 19.240(b) and 109.103(c)(2) 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 .......................................................................................................................................... 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 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 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 ................................................................................................................ 12 U.S.C. 164 ....................................................... 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) ............................................... khammond on DSKJM1Z7X2PROD with RULES Maximum penalty amount (in dollars) 1 U.S. Code citation 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. VerDate Sep<11>2014 16:33 Dec 27, 2019 Jkt 250001 4 83 FR 1517 (Jan. 12, 2018) (final rule); 83 FR 1657 (Jan. 12, 2018) (2018 CMP Notice). 5 The inflation adjustment multiplier for 2020 is 1.01764. See OMB Memorandum M–20–05, Implementation of Penalty Inflation Adjustments for 2020, Pursuant to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (Dec. 16, 2019). PO 00000 Frm 00002 Fmt 4700 Sfmt 4700 6 See 10,245 51,222 2 2,048,915 4,098 40,979 2 2,048,915 10,245 10,245 51,222 2 2,048,915 10,245 51,222 2 2,048,915 10,245 51,222 2 2,048,915 337,016 2,976 297 10,245 51,222 2 2,048,915 46,825 3,747 37,458 2 1,872,957 2,549 9,639 96,384 96,384 481,920 192,768 963,837 11,767 23,533 83 FR 66599 (Dec. 27, 2018). 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. 7 Penalties E:\FR\FM\30DER1.SGM 30DER1 Federal Register / Vol. 84, No. 249 / Monday, December 30, 2019 / Rules and Regulations 71737 PENALTIES APPLICABLE TO NATIONAL BANKS—Continued Maximum penalty amount (in dollars) 1 U.S. Code citation Description and tier (if applicable) 42 U.S.C. 4012a(f)(5) ........................................... Flood Insurance: Per violation ................................................................................................................................ 2,226 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 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 .......................................................................................................................................... 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 ................................................................................................................................ 12 U.S.C. 1467(d) ................................................. 12 U.S.C. 1467a(r) ................................................ 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) ............................................ 15 U.S.C. 78u–2(b) ............................................... 15 U.S.C. 1639e(k) ............................................... 42 U.S.C. 4012a(f)(5) ........................................... 1 The 4,098 40,979 2 2,048,915 10,245 4,098 40,979 2 2,048,915 10,245 51,222 2 2,048,915 10,245 51,222 2 2,048,915 337,016 2,705 297 10,245 51,222 2 2,048,915 9,639 96,384 96,384 481,920 192,768 963,837 11,767 23,533 2,226 khammond on DSKJM1Z7X2PROD with RULES 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 19, 2019. Jonathan V. Gould, Senior Deputy Comptroller and Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2019–28053 Filed 12–27–19; 8:45 am] BILLING CODE 4810–33–P VerDate Sep<11>2014 16:33 Dec 27, 2019 Jkt 250001 PO 00000 Frm 00003 Fmt 4700 Sfmt 4700 E:\FR\FM\30DER1.SGM 30DER1

Agencies

[Federal Register Volume 84, Number 249 (Monday, December 30, 2019)]
[Rules and Regulations]
[Pages 71735-71737]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-28053]


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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 2020.

-----------------------------------------------------------------------

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, 
2020, 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

[[Page 71736]]

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\ Public Law 101-410, Oct. 5, 1990, 104 Stat. 890, codified at 
28 U.S.C. 2461 note.
    \2\ Public Law 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 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.\4\
---------------------------------------------------------------------------

    \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\ 83 FR 1517 (Jan. 12, 2018) (final rule); 83 FR 1657 (Jan. 
12, 2018) (2018 CMP Notice).
---------------------------------------------------------------------------

    On December 16, 2019, the OMB issued guidance to affected agencies 
on implementing the required annual adjustment, which included the 
relevant inflation multiplier.\5\ The OCC has applied that multiplier 
to the maximum CMPs allowable in 2019 for national banks and Federal 
savings associations as listed in the 2019 CMP notice \6\ to calculate 
the maximum amount of CMPs that may be assessed by the OCC in 2020.\7\ 
There were no new statutory CMPs administered by the OCC during 2019.
---------------------------------------------------------------------------

    \5\ The inflation adjustment multiplier for 2020 is 1.01764. See 
OMB Memorandum M-20-05, Implementation of Penalty Inflation 
Adjustments for 2020, Pursuant to the Federal Civil Penalties 
Inflation Adjustment Act Improvements Act of 2015 (Dec. 16, 2019).
    \6\ See 83 FR 66599 (Dec. 27, 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, 2020, pursuant to 12 CFR 19.240(b) and 
109.103(c)(2) for conduct occurring on or after November 2, 2015:

                 Penalties Applicable to National Banks
------------------------------------------------------------------------
                                                              Maximum
                                   Description and tier   penalty amount
       U.S. Code citation            (if applicable)       (in dollars)
                                                                \1\
------------------------------------------------------------------------
12 U.S.C. 93(b)................  Violation of Various
                                  Provisions of the
                                  National Bank Act:
                                    Tier 1..............          10,245
                                    Tier 2..............          51,222
                                    Tier 3..............   \2\ 2,048,915
12 U.S.C. 164..................  Violation of Reporting
                                  Requirements:
                                    Tier 1..............           4,098
                                    Tier 2..............          40,979
                                    Tier 3..............   \2\ 2,048,915
12 U.S.C. 481..................  Refusal of Affiliate to          10,245
                                  Cooperate in
                                  Examination.
12 U.S.C. 504..................  Violation of Various
                                  Provisions of the
                                  Federal Reserve Act:
                                    Tier 1..............          10,245
                                    Tier 2..............          51,222
                                    Tier 3..............   \2\ 2,048,915
12 U.S.C. 1817(j)(16)..........  Violation of Change in
                                  Bank Control Act:
                                    Tier 1..............          10,245
                                    Tier 2..............          51,222
                                    Tier 3..............   \2\ 2,048,915
12 U.S.C. 1818(i)(2) \3\.......  Violation of Law,
                                  Unsafe or Unsound
                                  Practice, or Breach of
                                  Fiduciary Duty:
                                    Tier 1..............          10,245
                                    Tier 2..............          51,222
                                    Tier 3..............   \2\ 2,048,915
12 U.S.C. 1820(k)(6)(A)(ii)....  Violation of Post-
                                  Employment
                                  Restrictions:
                                    Per violation.......         337,016
12 U.S.C. 1832(c)..............  Violation of
                                  Withdrawals by
                                  Negotiable or
                                  Transferable
                                  Instrument for
                                  Transfers to Third
                                  Parties:
                                    Per violation.......           2,976
12 U.S.C. 1884.................  Violation of the Bank               297
                                  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..............          10,245
                                    Tier 2..............          51,222
                                    Tier 3..............   \2\ 2,048,915
12 U.S.C. 3110(a)..............  Violation of Various             46,825
                                  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..............           3,747
                                    Tier 2..............          37,458
                                    Tier 3..............   \2\ 1,872,957
12 U.S.C. 3909(d)(1)...........  Violation of                      2,549
                                  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                9,639
                                     person)--Per
                                     violation.
                                    Tier 1 (other                 96,384
                                     person)--Per
                                     violation.
                                    Tier 2 (natural               96,384
                                     person)--Per
                                     violation.
                                    Tier 2 (other                481,920
                                     person)--Per
                                     violation.
                                    Tier 3 (natural              192,768
                                     person)--Per
                                     violation.
                                    Tier 3 (other                963,837
                                     person)--Per
                                     violation.
15 U.S.C. 1639e(k).............  Violation of Appraisal
                                  Independence
                                  Requirements:
                                    First violation.....          11,767
                                    Subsequent                    23,533
                                     violations.

[[Page 71737]]

 
42 U.S.C. 4012a(f)(5)..........  Flood Insurance:
                                    Per violation.......           2,226
------------------------------------------------------------------------
\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 amount
       U.S. Code citation            CMP description       (in dollars)
                                                                \1\
------------------------------------------------------------------------
12 U.S.C. 1464(v)..............  Reports of Condition:
                                    1st Tier............           4,098
                                    2nd Tier............          40,979
                                    3rd Tier............   \2\ 2,048,915
12 U.S.C. 1467(d)..............  Refusal of Affiliate to          10,245
                                  Cooperate in
                                  Examination.
12 U.S.C. 1467a(r).............  Late/Inaccurate
                                  Reports:
                                    1st Tier............           4,098
                                    2nd Tier............          40,979
                                    3rd Tier............   \2\ 2,048,915
12 U.S.C. 1817(j)(16)..........  Violation of Change in
                                  Bank Control Act:
                                    Tier 1..............          10,245
                                    Tier 2..............          51,222
                                    Tier 3..............   \2\ 2,048,915
12 U.S.C. 1818(i)(2) \3\.......  Violation of Law,
                                  Unsafe or Unsound
                                  Practice, or Breach of
                                  Fiduciary Duty:
                                    Tier 1..............          10,245
                                    Tier 2..............          51,222
                                    Tier 3..............   \2\ 2,048,915
12 U.S.C. 1820(k)(6)(A)(ii)....  Violation of Post-
                                  Employment
                                  Restrictions:
                                    Per violation.......         337,016
12 U.S.C. 1832(c)..............  Violation of
                                  Withdrawals by
                                  Negotiable or
                                  Transferable
                                  Instruments for
                                  Transfers to Third
                                  Parties:
                                    Per violation.......           2,705
12 U.S.C. 1884.................  Violation of the Bank               297
                                  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..............          10,245
                                    Tier 2..............          51,222
                                    Tier 3..............   \2\ 2,048,915
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              9,639
                                     person)--Per
                                     violation.
                                    1st Tier (other               96,384
                                     person)--Per
                                     violation.
                                    2nd Tier (natural             96,384
                                     person)--Per
                                     violation.
                                    2nd Tier (other              481,920
                                     person)--Per
                                     violation.
                                    3rd Tier (natural            192,768
                                     person)--Per
                                     violation.
                                    3rd Tier (other              963,837
                                     person)--Per
                                     violation.
15 U.S.C. 1639e(k).............  Violation of Appraisal
                                  Independence
                                  Requirements:
                                    First violation.....          11,767
                                    Subsequent                    23,533
                                     violations.
42 U.S.C. 4012a(f)(5)..........  Flood Insurance:
                                    Per violation.......           2,226
------------------------------------------------------------------------
\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 19, 2019.
Jonathan V. Gould,
Senior Deputy Comptroller and Chief Counsel, Office of the Comptroller 
of the Currency.
[FR Doc. 2019-28053 Filed 12-27-19; 8:45 am]
BILLING CODE 4810-33-P