12 CFR 747.1001 - Adjustment of civil money penalties by the rate of inflation. | Title 12 - Banks and Banking | Code of Federal Regulations

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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 2012-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

2013-01-18; vol. 78 # 13 - Friday, January 18, 2013

78 FR 4026 - Definition of Troubled Condition

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2013-00863
RIN	3133-AD97

NATIONAL CREDIT UNION ADMINISTRATION

Final rule.

This rule is effective February 19, 2013.

12 CFR Parts 700, 701, 741, 747, and 750

Summary

The NCUA Board (Board) is issuing a final rule amending the definition of “troubled condition” as that term is used to trigger the statutory requirement to give the Board notice and an opportunity to disapprove a change of credit union officials, and as that term appears elsewhere in NCUA's regulations. Generally, the current definition allows only a state supervisory authority (SSA) to declare a federally insured, state-chartered credit union (FISCU) to be in “troubled condition.” The final rule amends the definition to allow either NCUA or an SSA to declare a FISCU in “troubled condition.” NCUA is adopting the amended definition of “troubled condition” as proposed.

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.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code

USC : Title 12 - BANKS AND BANKING

§ 1782 - Administration of insurance fund

§ 1784 - Examination of insured credit unions

§ 1785 - Requirements governing insured credit unions

§ 1786 - Termination of insured credit union status; cease and desist orders; removal or suspension from office; procedure

§ 1787 - Payment of insurance

§ 1790a - Board disapproval of directors, committee members, and senior executive officers of insured credit unions

§ 1790d - Prompt corrective action

Statutes at Large

120 Stat. 1966

Public Laws

104-134

109-351

Title 12 published on 2012-01-01

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

2013-01-18; vol. 78 # 13 - Friday, January 18, 2013

78 FR 4026 - Definition of Troubled Condition

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2013-00863
RIN	3133-AD97

NATIONAL CREDIT UNION ADMINISTRATION

Final rule.

This rule is effective February 19, 2013.

12 CFR Parts 700, 701, 741, 747, and 750

Summary

The NCUA Board (Board) is issuing a final rule amending the definition of “troubled condition” as that term is used to trigger the statutory requirement to give the Board notice and an opportunity to disapprove a change of credit union officials, and as that term appears elsewhere in NCUA's regulations. Generally, the current definition allows only a state supervisory authority (SSA) to declare a federally insured, state-chartered credit union (FISCU) to be in “troubled condition.” The final rule amends the definition to allow either NCUA or an SSA to declare a FISCU in “troubled condition.” NCUA is adopting the amended definition of “troubled condition” as proposed.

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

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