12 CFR 747.1001 - Adjustment of civil money penalties by the rate of inflation.

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§ 747.1001 Adjustment of civil money penalties by the rate of inflation.
(a) NCUA is required by the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note)) to adjust the maximum amount of each civil money penalty within its jurisdiction by the rate of inflation. The following chart displays those adjustments, as calculated pursuant to the statute:
U.S. code citation CMP description New maximum amount
(1) 12 U.S.C. 1782(a)(3) Inadvertent failure to submit a report or the inadvertent submission of a false or misleading report $2,200.
(2) 12 U.S.C. 1782(a)(3) Non-inadvertent failure to submit a report or the non-inadvertent submission of a false or misleading report $22,000.
(3) 12 U.S.C. 1782(a)(3) Failure to submit a report or the submission of a false or misleading report done knowingly or with reckless disregard $1,300,000 or 1 percent of the total assets of the credit union, whichever is less.
(4) 12 U.S.C. 1782(d)(2)(A) First tier $2,200.
(5) 12 U.S.C. 1782(d)(2)(B) Second tier $22,000.
(6) 12 U.S.C. 1782(d)(2)(C) Third tier $1,300,000 or 1 percent of the total assets of the credit union, whichever is less.
(7) 12 U.S.C. 1785(e)(3) Non-compliance with NCUA security regulations $110.
(8) 12 U.S.C. 1786(k)(2)(A) First tier $7,500.
(9) 12 U.S.C. 1786(k)(2)(B) Second tier $37,500.
(10) 12 U.S.C. 1786(k)(2)(C) Third tier For a person other than an insured credit union: $1,375,000;
For an insured credit union: $1,375,000 or 1 percent of the total assets of the credit union, whichever is less.
(11) 42 U.S.C. 4012a(f) Per violation $385.
Per calendar year $130,000.
(b) The adjustments displayed in paragraph (a) of this section apply to acts occurring after the date of publication in the Federal Register.
[74 FR 9351, Mar. 4, 2009]

Title 12 published on 2014-01-01

no entries appear in the Federal Register after this date.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code
Statutes at Large
Public Laws

Title 12 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 747 after this date.

  • 2014-02-27; vol. 79 # 39 - Thursday, February 27, 2014
    1. 79 FR 11184 - Prompt Corrective Action—Risk-Based Capital
      GPO FDSys XML | Text
      NATIONAL CREDIT UNION ADMINISTRATION
      Proposed rule.
      Comments must be received on or before May 28, 2014.
      12 CFR Parts 700, 701, 702, 703, 713, 723, and 747