Notification of Inflation Adjustments for Civil Money Penalties, 289-291 [2022-28539]
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289
Rules and Regulations
Federal Register
Vol. 88, No. 2
Wednesday, January 4, 2023
The adjusted maximum amount
of civil money penalties in this
document are applicable to penalties
assessed on or after January 4, 2023 for
conduct occurring on or after November
2, 2015.
FOR FURTHER INFORMATION CONTACT: Lee
Walzer, Counsel, Chief Counsel’s Office,
(202) 649–5490, 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 they administer.
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
DATES:
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.
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.
AGENCY:
Notification of Monetary
Penalties 2023.
ACTION:
This document announces
changes to the Office of the Comptroller
of the Currency’s (OCC) 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.
SUMMARY:
the OMB, by January 15 of the
applicable year.
To the extent an agency codified a
CMP amount in its regulations, the
agency would need to update that
amount by regulation. However, if an
agency codified a formula for making
the CMP adjustments, then subsequent
adjustments can be made solely by
notice.3 In 2018, the OCC published a
final regulation that removed the CMP
amounts from its regulations while
updating the CMP amounts for inflation
through the notice process.4
On December 15, 2022, 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 2022 for national
banks and Federal savings associations
as listed in the 2022 CMP notice 6 to
calculate the maximum amount of CMPs
that may be assessed by the OCC in
2023.7 There were no new statutory
CMPs administered by the OCC during
2022.
The following charts provide the
inflation-adjusted CMPs for use
beginning on January 4, 2023, 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 ................................................................................................................................................
12 U.S.C. 164 ................
12 U.S.C. 481 ................
12 U.S.C. 504 ................
khammond on DSKJM1Z7X2PROD with RULES
Maximum
penalty
amount
(in dollars) 1
U.S. code citation
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.
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
16:08 Jan 03, 2023
Jkt 259001
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).
5 The inflation adjustment multiplier for 2023 is
1.07745. See OMB Memorandum M–23–05,
Implementation of Penalty Inflation Adjustments
for 2023, Pursuant to the Federal Civil Penalties
PO 00000
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Fmt 4700
Sfmt 4700
11,864
59,316
2 2,372,677
4,745
47,454
2 2,372,677
11,864
11,864
59,316
2 2,372,677
Inflation Adjustment Act Improvements Act of 2015
(Dec. 15, 2022).
6 See 87 FR 1657 (Jan. 12, 2022).
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\04JAR1.SGM
04JAR1
290
Federal Register / Vol. 88, No. 2 / Wednesday, January 4, 2023 / Rules and Regulations
PENALTIES APPLICABLE TO NATIONAL BANKS—Continued
Maximum
penalty
amount
(in dollars) 1
U.S. code citation
Description and tier
(if applicable)
12 U.S.C. 1817(j)(16) .....
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:
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) ....
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 .....................................................................................................................................
11,864
59,316
2 2,372,677
11,864
59,316
2 2,372,677
390,271
3,446
345
11,864
59,316
2 2,372,677
54,224
4,339
43,377
2 2,168,915
2,951
11,162
111,614
111,614
558,071
223,229
1,116,140
13,627
27,252
2,577
1 The
maximum penalty amount is per day, unless otherwise indicated.
maximum penalty amount for a national bank is the lesser of this amount or 1 percent of total assets.
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.
2 The
3 These
PENALTIES APPLICABLE TO FEDERAL SAVINGS ASSOCIATIONS
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 ................................................................................................................................................
12 U.S.C. 1467(d) ..........
12 U.S.C. 1467a(r) .........
khammond on DSKJM1Z7X2PROD with RULES
Maximum
penalty
amount
(in dollars) 8
U.S. code citation
12 U.S.C. 1817(j)(16) .....
12 U.S.C. 1818(i)(2) 3 ....
VerDate Sep<11>2014
16:08 Jan 03, 2023
Jkt 259001
PO 00000
Frm 00002
Fmt 4700
Sfmt 4700
E:\FR\FM\04JAR1.SGM
04JAR1
4,745
47,454
2 2,372,677
11,864
4,745
47,454
2 2,372,677
11,864
59,316
2 2,372,677
11,864
59,316
2 2,372,677
291
Federal Register / Vol. 88, No. 2 / Wednesday, January 4, 2023 / Rules and Regulations
PENALTIES APPLICABLE TO FEDERAL SAVINGS ASSOCIATIONS—Continued
U.S. code citation
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) ....
Maximum
penalty
amount
(in dollars) 8
CMP description
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 .....................................................................................................................................
390,271
3,132
345
11,864
59,316
2 2,372,677
11,162
111,614
111,614
558,071
223,229
1,116,140
13,627
27,252
2,577
8 The
maximum penalty amount is per day, unless otherwise indicated.
maximum penalty amount for a federal savings association is the lesser of this amount or 1 percent of total assets.
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.
2 The
3 These
D.J. Fink,
Associate Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2022–28539 Filed 1–3–23; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 100
[Docket No. USCG–2022–0844]
Special Local Regulations; Recurring
Marine Events, Sector St. Petersburg
Coast Guard, DHS.
ACTION: Notification of enforcement of
regulation.
AGENCY:
On January 28, 2023, the
Coast Guard will enforce a special local
regulation for the Gasparilla Invasion
and Parade to provide for the safety of
life on navigable waterways during this
event. Our regulation for recurring
marine events within Sector St.
Petersburg identifies the regulated area
for this event in Tampa, FL. During the
enforcement periods, the operator of any
vessel in the regulated area must
comply with directions from the Patrol
khammond on DSKJM1Z7X2PROD with RULES
SUMMARY:
VerDate Sep<11>2014
16:08 Jan 03, 2023
Jkt 259001
Commander or any designated
representative.
DATES: The regulations in 33 CFR
100.703, Table 1 to § 100.703, Line No.
1, will be enforced from 11:30 a.m.
through 2:00 p.m., on January 28, 2023.
FOR FURTHER INFORMATION CONTACT: If
you have questions about this notice of
enforcement, call or email Marine
Science Technician First Class Ryan
Shaak, Sector St. Petersburg Prevention
Department, Coast Guard; telephone
(813) 228–2191, email: Ryan.D.Shaak@
uscg.mil.
SUPPLEMENTARY INFORMATION: The Coast
Guard will enforce the special local
regulation in 33 CFR 100.703, Table 1 to
§ 100.703, Line No. 1, for the Gasparilla
Invasion and Parade on January 28,
2023 from 11:30 a.m. until 2:00 p.m.
This action is being taken to provide for
the safety of life on navigable waterways
during this event. Our regulation for
recurring marine events, Sector St.
Petersburg, § 100.703, Table 1 to
§ 100.703, Line No. 1, specifies the
location of the regulated area for the
Gasparilla Invasion and Parade which
encompasses portions of Hillsborough
Bay, Seddon Channel, Sparkman
Channel and Hillsborough River near
Tampa, FL. During the enforcement
periods, as reflected in § 100.703(c), if
you are the operator of a vessel in the
PO 00000
Frm 00003
Fmt 4700
Sfmt 4700
regulated area you must comply with
directions from the Patrol Commander
or any designated representative.
In addition to this notice of
enforcement in the Federal Register, the
Coast Guard plans to provide
notification of this enforcement period
via the Local Notice to Mariners and/or
marine information broadcasts.
Dated: December 27, 2022.
Michael P. Kahle,
Captain, U.S. Coast Guard, Captain of the
Port St. Petersburg.
[FR Doc. 2022–28564 Filed 1–3–23; 8:45 am]
BILLING CODE 9110–04–P
ENVIRONMENTAL PROTECTION
AGENCY
40 CFR Part 52
[EPA–R07–OAR–2022–0531; FRL–9976–02–
R7]
Air Plan Disapproval; Missouri; Control
of Sulfur Dioxide Emissions
Environmental Protection
Agency (EPA).
ACTION: Final rule.
AGENCY:
The Environmental Protection
Agency (EPA) is taking final action to
disapprove revisions to the Missouri
State Implementation Plan (SIP)
SUMMARY:
E:\FR\FM\04JAR1.SGM
04JAR1
]]>Agencies
[Federal Register Volume 88, Number 2 (Wednesday, January 4, 2023)]
[Rules and Regulations]
[Pages 289-291]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-28539]
========================================================================
Rules and Regulations
Federal Register
________________________________________________________________________
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.
========================================================================
Federal Register / Vol. 88, No. 2 / Wednesday, January 4, 2023 /
Rules and Regulations
[[Page 289]]
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 2023.
-----------------------------------------------------------------------
SUMMARY: This document announces changes to the Office of the
Comptroller of the Currency's (OCC) 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 4,
2023 for conduct occurring on or after November 2, 2015.
FOR FURTHER INFORMATION CONTACT: Lee Walzer, Counsel, Chief Counsel's
Office, (202) 649-5490, 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 they administer.
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 the 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 codified a CMP amount in its regulations,
the agency would need to update that amount by regulation. However, if
an agency codified a formula for making the CMP adjustments, then
subsequent adjustments can be made solely by notice.\3\ In 2018, the
OCC published a final regulation that removed the CMP amounts from its
regulations while updating the CMP 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 15, 2022, 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 2022 for national banks and Federal
savings associations as listed in the 2022 CMP notice \6\ to calculate
the maximum amount of CMPs that may be assessed by the OCC in 2023.\7\
There were no new statutory CMPs administered by the OCC during 2022.
---------------------------------------------------------------------------
\5\ The inflation adjustment multiplier for 2023 is 1.07745. See
OMB Memorandum M-23-05, Implementation of Penalty Inflation
Adjustments for 2023, Pursuant to the Federal Civil Penalties
Inflation Adjustment Act Improvements Act of 2015 (Dec. 15, 2022).
\6\ See 87 FR 1657 (Jan. 12, 2022).
\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 4, 2023, 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............. 11,864
Tier 2............. 59,316
Tier 3............. \2\ 2,372,677
12 U.S.C. 164................... Violation of Reporting
Requirements:
Tier 1............. 4,745
Tier 2............. 47,454
Tier 3............. \2\ 2,372,677
12 U.S.C. 481................... Refusal of Affiliate 11,864
to Cooperate in
Examination.
12 U.S.C. 504................... Violation of Various
Provisions of the
Federal Reserve Act:
Tier 1............. 11,864
Tier 2............. 59,316
Tier 3............. \2\ 2,372,677
[[Page 290]]
12 U.S.C. 1817(j)(16)........... Violation of Change in
Bank Control Act:
Tier 1............. 11,864
Tier 2............. 59,316
Tier 3............. \2\ 2,372,677
12 U.S.C. 1818(i)(2) \3\........ Violation of Law,
Unsafe or Unsound
Practice, or Breach
of Fiduciary Duty:
Tier 1............. 11,864
Tier 2............. 59,316
Tier 3............. \2\ 2,372,677
12 U.S.C. 1820(k)(6)(A)(ii)..... Violation of Post-
Employment
Restrictions:
Per violation...... 390,271
12 U.S.C. 1832(c)............... Violation of
Withdrawals by
Negotiable or
Transferable
Instrument for
Transfers to Third
Parties:
Per violation...... 3,446
12 U.S.C. 1884.................. Violation of the Bank 345
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............. 11,864
Tier 2............. 59,316
Tier 3............. \2\ 2,372,677
12 U.S.C. 3110(a)............... Violation of Various 54,224
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............. 4,339
Tier 2............. 43,377
Tier 3............. \2\ 2,168,915
12 U.S.C. 3909(d)(1)............ Violation of 2,951
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 11,162
person)--Per
violation.
Tier 1 (other 111,614
person)--Per
violation.
Tier 2 (natural 111,614
person)--Per
violation.
Tier 2 (other 558,071
person)--Per
violation.
Tier 3 (natural 223,229
person)--Per
violation.
Tier 3 (other 1,116,140
person)--Per
violation.
15 U.S.C. 1639e(k).............. Violation of Appraisal
Independence
Requirements:
First violation.... 13,627
Subsequent 27,252
violations.
42 U.S.C. 4012a(f)(5)........... Flood Insurance:
Per violation...... 2,577
------------------------------------------------------------------------
\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)
\8\
------------------------------------------------------------------------
12 U.S.C. 1464(v)............... Reports of Condition:
1st Tier........... 4,745
2nd Tier........... 47,454
3rd Tier........... \2\ 2,372,677
12 U.S.C. 1467(d)............... Refusal of Affiliate 11,864
to Cooperate in
Examination.
12 U.S.C. 1467a(r).............. Late/Inaccurate
Reports:
1st Tier........... 4,745
2nd Tier........... 47,454
3rd Tier........... \2\ 2,372,677
12 U.S.C. 1817(j)(16)........... Violation of Change in
Bank Control Act:
Tier 1............. 11,864
Tier 2............. 59,316
Tier 3............. \2\ 2,372,677
12 U.S.C. 1818(i)(2) \3\........ Violation of Law,
Unsafe or Unsound
Practice, or Breach
of Fiduciary Duty:
Tier 1............. 11,864
Tier 2............. 59,316
Tier 3............. \2\ 2,372,677
[[Page 291]]
12 U.S.C. 1820(k)(6)(A)(ii)..... Violation of Post-
Employment
Restrictions:
Per violation...... 390,271
12 U.S.C. 1832(c)............... Violation of
Withdrawals by
Negotiable or
Transferable
Instruments for
Transfers to Third
Parties:
Per violation...... 3,132
12 U.S.C. 1884.................. Violation of the Bank 345
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............. 11,864
Tier 2............. 59,316
Tier 3............. \2\ 2,372,677
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 11,162
person)--Per
violation.
1st Tier (other 111,614
person)--Per
violation.
2nd Tier (natural 111,614
person)--Per
violation.
2nd Tier (other 558,071
person)--Per
violation.
3rd Tier (natural 223,229
person)--Per
violation.
3rd Tier (other 1,116,140
person)--Per
violation.
15 U.S.C. 1639e(k).............. Violation of Appraisal
Independence
Requirements:
First violation.... 13,627
Subsequent 27,252
violations.
42 U.S.C. 4012a(f)(5)........... Flood Insurance:
Per violation...... 2,577
------------------------------------------------------------------------
\8\ 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.
D.J. Fink,
Associate Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2022-28539 Filed 1-3-23; 8:45 am]
BILLING CODE 4810-33-P
