| Title: Rules of Practice and Procedure; Civil Money Penalty Inflation Adjustments |
| Abstract: The OCC plans to issue a final rule to adjust civil money penalties (CMPs) to account for inflation. The Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996 requires federal agencies with authority to impose CMPs to publish regulations to adjust the maximum penalties for various CMPs. The purpose of these adjustments is to maintain the deterrent effect of CMPs and to promote compliance with the law. |
| Priority: Substantive, Nonsignificant | Agenda Stage of Rulemaking: Final Rule |
| Major: Undetermined | Unfunded Mandates: No |
| CFR Citation: 12 CFR 19
(To search for a specific CFR, visit the
Code of Federal Regulations
)
|
| Legal Authority: 12 USC 504; 12 USC 554 to 557; 12 USC 93(b); 12 USC 93a; 12 USC 164; 12 USC 505; 12 USC 1817 and 1818; 12 USC 1820; 12 USC 1831m; 12 USC 1831o; 12 USC 1972; 12 USC 3102; 12 USC 3108(a); 12 USC 3909; 12 USC 4717; 15 USC 78(h) and 78(i); 15 USC 78o-4(c); 15 USC 78o-5; 15 USC 78q-1; 15 USC 78s; 15 USC 78u; 15 USC 78u-2 and 78u-3; 15 USC 78w; 28 USC 2461 note; 31 USC 330; 31 USC 5321; 42 USC 4012a |
| Legal Deadline: The Federal Civil Penalties Inflation Adjustment Act of 1990 requires that an adjustment be made at least once every four years following the initial adjustment. |
| | Action | | Source | | Description | | Date |
| | Other
| | Statutory
| | Adjustment must be made every four years.
| | 10/23/2008
|
|
| Timetable: |
| |
Action
| |
Date
| |
FR Cite
|
| | Final Action
| | 11/00/2008
| |
|
|
| Regulatory Flexibility Analysis Required: No | Government Levels Affected: No |
| Federalism: No |
| Energy Affected: No |
Agency Contact: Jean Campbell
Senior Attorney
Department of the Treasury
Comptroller of the Currency
Legislative and Regulatory Activities Division 250 E Street SW.
Washington
,
DC
20219
Phone:
202 874-5090
FAX:
202 874-4889
E-Mail:
jean.campbell@occ.treas.gov
|