Notification of Inflation Adjustments for Civil Money Penalties, 872-874 [2024-00097]
Download as PDF
<![CDATA[
ddrumheller on DSK120RN23PROD with RULES1
872
Federal Register / Vol. 89, No. 5 / Monday, January 8, 2024 / Rules and Regulations
request reconsideration of the recapture
determination, an owner/operator must
submit to the Department a written
request that includes:
(1) An explanation of why the owner/
operator believes all or some of the
credits (and the value of any credits
previously paid) should not be subject
to recapture; and
(2) Supporting information and
calculations.
(c) Notification of final amount
subject to recapture. Unless the
Department extends the time period,
within 60 days of receipt of an owner/
operator’s request for reconsideration
provided pursuant to paragraph (b) of
this section, the owner/operator will be
notified of the Department’s decision to
affirm, withdraw, or modify the notice
of recapture. The notification will
include an explanation of the decision,
including responses to the owner/
operator’s supporting reasons and
consideration of additional information
provided.
(d) Effectiveness of recapture. (1) If
the owner/operator has not requested
reconsideration as provided in
paragraph (b) of this section;
(i) The credits will be deemed to be
recaptured as of the date of the
notification provided by the Secretary
pursuant to paragraph (a) of this section
and the owner/operator will have no
further right or claim to those credits;
and
(ii) The owner/operator shall repay to
the Department the value of credits that
the Department has paid to the owner/
operator and that are subject to
recapture under § 612.4 within 30
calendar days of the date of notification
provided by the Department pursuant to
paragraph (a) of this section.
(2) If the owner/operator has
requested reconsideration as provided
in paragraph (b) of this section;
(i) The credits will be deemed to be
recaptured as of the date of the
notification provided by the Department
pursuant to paragraph (c) of this section
and the owner/operator will have no
further right or claim to those credits;
and
(ii) The owner/operator shall pay to
the Department the value of credits that
the Department has previously paid to
the owner/operator and that are subject
to recapture under § 612.4 within 30
calendar days of the date of notification
provided by the Department pursuant to
paragraph (c) of this section.
(e) Notice. Notices issued by the
Department under this section shall be
made public by the Department, with
the exception of any data or supporting
documentation constituting confidential
VerDate Sep<11>2014
15:57 Jan 05, 2024
Jkt 262001
business information not subject to
disclosure.
§ 612.6 Petition to the Department’s Office
of Hearings and Appeals.
In order to exhaust its administrative
remedies, an owner/operator who is
aggrieved by the Secretary’s decision to
affirm, withdraw, or modify the notice
of recapture as provided in § 612.5(c)
may file a petition with the
Department’s Office of Hearings and
Appeals in accordance with 10 CFR
1003.11 not later than thirty days after
notification of the Department’s
decision.
[FR Doc. 2024–00153 Filed 1–5–24; 8:45 am]
BILLING CODE 6450–01–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 2024.
AGENCY:
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 8, 2024 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
1 Public Law 101–410, Oct. 5, 1990, 104 Stat. 890,
codified at 28 U.S.C. 2461 note.
PO 00000
Frm 00014
Fmt 4700
Sfmt 4700
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.
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 19, 2023, 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 2023 for national
banks and Federal savings associations
as listed in the 2023 CMP notice 6 to
calculate the maximum amount of CMPs
that may be assessed by the OCC in
2024.7 There were no new statutory
CMPs administered by the OCC during
2023.
The following charts provide the
inflation-adjusted CMPs for use
beginning on January 8, 2024, pursuant
to 12 CFR 19.240(b) and 109.103(c)(2)
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,
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 2024 is
1.03241. See OMB Memorandum M–24–07,
Implementation of Penalty Inflation Adjustments
for 2024, Pursuant to the Federal Civil Penalties
Inflation Adjustment Act Improvements Act of 2015
(Dec. 19, 2023).
6 See 88 FR 289 (Jan. 4, 2023).
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\08JAR1.SGM
08JAR1
Federal Register / Vol. 89, No. 5 / Monday, January 8, 2024 / Rules and Regulations
873
for conduct occurring on or after
November 2, 2015:
PENALTIES APPLICABLE TO NATIONAL BANKS
Maximum
penalty
amount
(in dollars) 1
U.S. Code citation
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 .............................................................................................................
Flood Insurance: Per violation .......................................................................................................
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) .................
42 U.S.C. 4012a(f)(5) .............
12,249
61,238
2 2,449,575
4,899
48,992
2 2,449,575
12,249
12,249
61,238
2 2,449,575
12,249
61,238
2 2,449,575
12,249
61,238
2 2,449,575
402,920
3,558
356
12,249
61,238
2 2,449,575
55,981
4,480
44,783
2 2,239,210
3,047
11,524
115,231
115,231
576,158
230,464
1,152,314
14,069
28,135
2,661
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.
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.
2 The
ddrumheller on DSK120RN23PROD with RULES1
PENALTIES APPLICABLE TO FEDERAL SAVINGS ASSOCIATIONS
Maximum
penalty
amount
(in dollars) 8
U.S. Code citation
CMP description
12 U.S.C. 1464(v) ...................
Reports of Condition:
1st Tier ....................................................................................................................................
2nd Tier ...................................................................................................................................
3rd Tier ....................................................................................................................................
VerDate Sep<11>2014
15:57 Jan 05, 2024
Jkt 262001
PO 00000
Frm 00015
Fmt 4700
Sfmt 4700
E:\FR\FM\08JAR1.SGM
08JAR1
4,899
48,992
2 2,449,575
874
Federal Register / Vol. 89, No. 5 / Monday, January 8, 2024 / Rules and Regulations
PENALTIES APPLICABLE TO FEDERAL SAVINGS ASSOCIATIONS—Continued
Maximum
penalty
amount
(in dollars) 8
U.S. Code citation
CMP description
12 U.S.C. 1467(d) ...................
12 U.S.C. 1467a(r) ..................
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 .......................................................................................................
712 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) .............
12,249
4,899
48,992
2 2,449,575
12,249
61,238
2 2,449,575
12,249
61,238
2 2,449,575
402,920
3,234
356
12,249
61,238
2 2,449,575
11,524
115,231
115,231
576,158
230,464
1,152,314
14,069
28,135
2,661
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.
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.
2 The
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
§ 52.220 Identification of plan-in part.
[Corrected]
ACTION:
On page 88257, in the second column,
beginning on the thirty-fifth line, the
entry ‘‘(ii)’’ should read ‘‘(i)’’.
■ On the same page, in the same
column, beginning on the thirty-eighth
line, the entry ‘‘(ii)’’ should read ‘‘(1)’’.
SUMMARY: In this document, the Federal
Communications Commission
(Commission) builds on the 6 GHz band
unlicensed rules by permitting very low
power (VLP) devices in the U–NII–5
(5.925–6.425 MHz) and U–NII–7 (6.525–
6.875 MHz) portions of the 6 GHz band.
The Commission will limit VLP devices
to low power levels and subject them to
other technical and operational
requirements that will permit these
devices to operate across the United
States while protecting incumbent
licensed services that operate in the 6
GHz band from harmful interference.
The Commission also takes action in a
Memorandum Opinion and Order on
Remand that addresses a remand from
the United States Court of Appeals for
the District of Columbia Circuit
concerning an issue raised by television
broadcasters. The Commission finds
that broadcasters’ unsubstantiated
claims of interference in the 2.4 GHz
■
[FR Doc. 2024–00097 Filed 1–5–24; 8:45 am]
BILLING CODE 4810–33–P
ENVIRONMENTAL PROTECTION
AGENCY
[FR Doc. C1–2023–27889 Filed 1–5–24; 8:45 am]
BILLING CODE 0099–10–P
40 CFR Part 52
FEDERAL COMMUNICATIONS
COMMISSION
ddrumheller on DSK120RN23PROD with RULES1
[EPA–R09–OAR–2022–0925; FRL–10943–
02–R9]
47 CFR Part 15
Air Quality Implementation Plan;
California; Great Basin Unified Air
Pollution Control District; Stationary
Source Permits
[ET Docket No. 18–295 and GN Docket No.
17–183; FCC 23–86; FR ID 190574]
Correction
In Rule Document 2023–27889,
appearing on pages 88255 to 88257 in
the issue of Wednesday, December 21,
2023, make the following correction:
VerDate Sep<11>2014
15:57 Jan 05, 2024
Jkt 262001
Unlicensed Use of the 6 GHz Band;
and Expanding Flexible Use in MidBand Spectrum Between 3.7 and 24
GHz
Federal Communications
Commission.
AGENCY:
PO 00000
Frm 00016
Fmt 4700
Sfmt 4700
E:\FR\FM\08JAR1.SGM
Final rule.
08JAR1
]]>Agencies
[Federal Register Volume 89, Number 5 (Monday, January 8, 2024)]
[Rules and Regulations]
[Pages 872-874]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-00097]
=======================================================================
-----------------------------------------------------------------------
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 2024.
-----------------------------------------------------------------------
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 8,
2024 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 19, 2023, 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 2023 for national banks and Federal
savings associations as listed in the 2023 CMP notice \6\ to calculate
the maximum amount of CMPs that may be assessed by the OCC in 2024.\7\
There were no new statutory CMPs administered by the OCC during 2023.
---------------------------------------------------------------------------
\5\ The inflation adjustment multiplier for 2024 is 1.03241. See
OMB Memorandum M-24-07, Implementation of Penalty Inflation
Adjustments for 2024, Pursuant to the Federal Civil Penalties
Inflation Adjustment Act Improvements Act of 2015 (Dec. 19, 2023).
\6\ See 88 FR 289 (Jan. 4, 2023).
\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 8, 2024, pursuant to 12 CFR 19.240(b) and
109.103(c)(2)
[[Page 873]]
for conduct occurring on or after November 2, 2015:
Penalties Applicable to National Banks
----------------------------------------------------------------------------------------------------------------
Maximum
penalty amount
U.S. Code citation Description and Tier (if applicable) (in dollars)
\1\
----------------------------------------------------------------------------------------------------------------
12 U.S.C. 93(b)........................................ Violation of Various Provisions of the
National Bank Act:
Tier 1.............................. 12,249
Tier 2.............................. 61,238
Tier 3.............................. \2\ 2,449,575
12 U.S.C. 164.......................................... Violation of Reporting Requirements:
Tier 1.............................. 4,899
Tier 2.............................. 48,992
Tier 3.............................. \2\ 2,449,575
12 U.S.C. 481.......................................... Refusal of Affiliate to Cooperate in 12,249
Examination.
12 U.S.C. 504.......................................... Violation of Various Provisions of the
Federal Reserve Act:
Tier 1.............................. 12,249
Tier 2.............................. 61,238
Tier 3.............................. \2\ 2,449,575
12 U.S.C. 1817(j)(16).................................. Violation of Change in Bank Control
Act:
Tier 1.............................. 12,249
Tier 2.............................. 61,238
Tier 3.............................. \2\ 2,449,575
12 U.S.C. 1818(i)(2) \3\............................... Violation of Law, Unsafe or Unsound
Practice, or Breach of Fiduciary Duty:
Tier 1.............................. 12,249
Tier 2.............................. 61,238
Tier 3.............................. \2\ 2,449,575
12 U.S.C. 1820(k)(6)(A)(ii)............................ Violation of Post-Employment 402,920
Restrictions: Per violation.
12 U.S.C. 1832(c)...................................... Violation of Withdrawals by Negotiable 3,558
or Transferable Instrument for
Transfers to Third Parties: Per
violation.
12 U.S.C. 1884......................................... Violation of the Bank Protection Act... 356
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.............................. 12,249
Tier 2.............................. 61,238
Tier 3.............................. \2\ 2,449,575
12 U.S.C. 3110(a)...................................... Violation of Various Provisions of the 55,981
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.............................. 4,480
Tier 2.............................. 44,783
Tier 3.............................. \2\ 2,239,210
12 U.S.C. 3909(d)(1)................................... Violation of International Lending 3,047
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 person)--Per 11,524
violation.
Tier 1 (other person)--Per violation 115,231
Tier 2 (natural person)--Per 115,231
violation.
Tier 2 (other person)--Per violation 576,158
Tier 3 (natural person)--Per 230,464
violation.
Tier 3 (other person)--Per violation 1,152,314
15 U.S.C. 1639e(k)..................................... Violation of Appraisal Independence
Requirements:
First violation..................... 14,069
Subsequent violations............... 28,135
42 U.S.C. 4012a(f)(5).................................. Flood Insurance: Per violation......... 2,661
----------------------------------------------------------------------------------------------------------------
\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............................ 4,899
2nd Tier............................ 48,992
3rd Tier............................ \2\ 2,449,575
[[Page 874]]
12 U.S.C. 1467(d)...................................... Refusal of Affiliate to Cooperate in 12,249
Examination.
12 U.S.C. 1467a(r)..................................... Late/Inaccurate Reports:
1st Tier............................ 4,899
2nd Tier............................ 48,992
3rd Tier............................ \2\ 2,449,575
712 U.S.C. 1817(j)(16)................................. Violation of Change in Bank Control
Act:
Tier 1.............................. 12,249
Tier 2.............................. 61,238
Tier 3.............................. \2\ 2,449,575
12 U.S.C. 1818(i)(2) \3\............................... Violation of Law, Unsafe or Unsound
Practice, or Breach of Fiduciary Duty:
Tier 1.............................. 12,249
Tier 2.............................. 61,238
Tier 3.............................. \2\ 2,449,575
12 U.S.C. 1820(k)(6)(A)(ii)............................ Violation of Post-Employment 402,920
Restrictions: Per violation.
12 U.S.C. 1832(c)...................................... Violation of Withdrawals by Negotiable 3,234
or Transferable Instruments for
Transfers to Third Parties: Per
violation.
12 U.S.C. 1884......................................... Violation of the Bank Protection Act... 356
12 U.S.C. 1972(2)(F)................................... Violation of Provisions regarding
Correspondent Accounts, Unsafe or
Unsound Practices, or Breach of
Fiduciary Duty:
Tier 1.............................. 12,249
Tier 2.............................. 61,238
Tier 3.............................. \2\ 2,449,575
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 person)--Per 11,524
violation.
1st Tier (other person)--Per 115,231
violation.
2nd Tier (natural person)--Per 115,231
violation.
2nd Tier (other person)--Per 576,158
violation.
3rd Tier (natural person)--Per 230,464
violation.
3rd Tier (other person)--Per 1,152,314
violation.
15 U.S.C. 1639e(k)..................................... Violation of Appraisal Independence
Requirements:
First violation..................... 14,069
Subsequent violations............... 28,135
42 U.S.C. 4012a(f)(5).................................. Flood Insurance: Per violation......... 2,661
----------------------------------------------------------------------------------------------------------------
\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.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the Comptroller of the Currency.
[FR Doc. 2024-00097 Filed 1-5-24; 8:45 am]
BILLING CODE 4810-33-P
