12 CFR 19.240 - Inflation adjustments.

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§ 19.240 Inflation adjustments.

(a)Statutory formula to calculate inflation adjustments. The maximum amount of each civil money penalty in the chart in paragraph (b) of this section is adjusted annually for inflation. The inflation adjustment is calculated by multiplying the maximum dollar amount of the civil money penalty for the previous calendar year by the cost-of-living inflation adjustment multiplier provided annually by the Office of Management and Budget and rounding the total to the nearest dollar.

(b)2017 Inflation adjustment. The maximum amount of each civil money penalty in the following chart applies to penalties assessed after January 15, 2017, for violations that occurred on or after November 2, 2015:

U.S. Code citation Description and tier
(if applicable)
Maximum
penalty
amount
(in dollars) 1
12 U.S.C. 93(b) Violation of Various Provisions of the National Bank Act:
Tier 1 9,623
Tier 2 48,114
Tier 3 2 1,924,589
12 U.S.C. 164 Violation of Reporting Requirements:
Tier 1 3,849
Tier 2 38,492
Tier 3 2 1,924,589
12 U.S.C. 481 Refusal of Affiliate to Cooperate in Examination (national bank) 9,623
12 U.S.C. 504 Violation of Various Provisions of the Federal Reserve Act:
Tier 1 9,623
Tier 2 48,114
Tier 3 2 1,924,589
12 U.S.C. 1817(j)(16) Violation of Change in Bank Control Act:
Tier 1 9,623
Tier 2 48,114
Tier 3 2 1,924,589
12 U.S.C. 1818(i)(2) 3 Violation of Law, Unsafe or Unsound Practice, or Breach of Fiduciary Duty:
Tier 1 9,623
Tier 2 48,114
Tier 3 2 1,924,589
12 U.S.C. 1820(k)(6)(A)(ii) Violation of Post-Employment Restrictions:
Per violation 316,566
12 U.S.C. 1832(c) Violation of Withdrawals by Negotiable or Transferable Instrument for Transfers to Third Parties:
Per violation 2,795
12 U.S.C. 1884 Violation of the Bank Protection Act 279
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 9,623
Tier 2 48,114
Tier 3 2 1,924,589
12 U.S.C. 3110(a) Violation of Various Provisions of the International Banking Act (Federal Branches and Agencies): 43,983
12 U.S.C. 3110(c) Violation of Reporting Requirements of the International Banking Act (Federal Branches and Agencies):
Tier 1 3,519
Tier 2 35,186
Tier 3 2 1,759,309
12 U.S.C. 3909(d)(1) Violation of International Lending Supervision Act 2,394
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 violation 9,054
Tier 1 (other person) - Per violation 90,535
Tier 2 (natural person) - Per violation 90,535
Tier 2 (other person) - Per violation 452,677
Tier 3 (natural person) - Per violation 181,071
Tier 3 (other person) - Per violation 905,353
15 U.S.C. 1639e(k) Violation of Appraisal Independence Requirements:
First violation 11,053
Subsequent violations 22,105
42 U.S.C. 4012a(f)(5) Flood Insurance:
Per violation 2,090

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.

(c)Future inflation adjustments. Notice of the maximum penalty which may be assessed for the penalties enumerated in paragraph (b) of this section for calendar years after 2017 will be published in the Federal Register on an annual basis on or before January 15 of each calendar year based on the formula in paragraph (a) of this section.

[ 82 FR 8586, Jan. 27, 2017]

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
U.S. Code: Title 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES
U.S. Code: Title 12 - BANKS AND BANKING
U.S. Code: Title 15 - COMMERCE AND TRADE
U.S. Code: Title 28 - JUDICIARY AND JUDICIAL PROCEDURE
U.S. Code: Title 31 - MONEY AND FINANCE
U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE

Title 12 published on 17-Jun-2017 04:33

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 19 after this date.

  • 2017-01-27; vol. 82 # 17 - Friday, January 27, 2017
    1. 82 FR 8584 - Rules of Practice and Procedure; Rules of Practice and Procedure in Adjudicatory Proceedings; Civil Money Penalty Inflation Adjustments
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Office of the Comptroller of the Currency
      Final rule.
      This rule is effective on January 27, 2017 and is applicable to penalties assessed after January 15, 2017.
      12 CFR Parts 19 and 109