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

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§ 747.1001 Adjustment of civil monetary 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 monetary 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 $3,200.
(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 $32,000.
(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 $1,425,000 or 1 percent of the total assets of the credit union, whichever is less.
(4) 12 U.S.C. 1782(d)(2)(A) Tier 1 CMP for inadvertent failure to submit certified statement of insured shares and charges due to NCUSIF, or inadvertent submission of false or misleading statement $3,200.
(5) 12 U.S.C. 1782(d)(2)(B) Tier 2 CMP for non-inadvertent failure to submit certified statement or submission of false or misleading statement $32,000.
(6) 12 U.S.C. 1782(d)(2)(C) Tier 3 CMP for failure to submit a certified statement or the submission of a false or misleading statement done knowingly or with reckless disregard $1,425,000 or 1 percent of the total assets of the credit union, whichever is less.
(7) 12 U.S.C. 1785(a)(3) Non-compliance with insurance logo requirements $110.
(8) 12 U.S.C. 1785(e) (3) Non-compliance with NCUA security requirements $110.
(9) 12 U.S.C. 1786(k)(2)(A) Tier 1 CMP for violations of law, regulation, and other orders or agreements $8,500.
(10) 12 U.S.C. 1786(k)(2)(A) Tier 2 CMP for violations of law, regulation, and other orders or agreements and for recklessly engaging in unsafe or unsound practices or breaches of fiduciary duty $42,500.
(11) 12 U.S.C. 1786(k)(2)(A) Tier 3 CMP for knowingly committing the violations under Tier 1 or 2 (natural person) For a person other than an insured credit union: $1,525,000; For an insured credit union: $1,525,000 or 1 percent of the total assets of the credit union, whichever is less.
(12) 12 U.S.C. 1786(w)(5)(ii) Non-compliance with senior examiner post-employment restrictions $275,000.
(13) 15 U.S.C. 1639e(k) Non-compliance with appraisal independence requirements First violation: $11,000 Subsequent violations: $20,000.
(14) 42 U.S.C. 4012a(f)(5) Non-compliance with flood insurance requirements $2,000.

(b) The adjustments displayed in paragraph (a) of this section apply to acts occurring after the date of publication in the Federal Register.

[80 FR 57288, Sept. 23, 2015]

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United States Code
Statutes at Large
Public Laws

Title 12 published on 2015-01-01

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

  • 2015-10-29; vol. 80 # 209 - Thursday, October 29, 2015
    1. 80 FR 66626 - Risk-Based Capital
      GPO FDSys XML | Text
      NATIONAL CREDIT UNION ADMINISTRATION
      Final rule.
      This final rule is effective on January 1, 2019.
      12 CFR Parts 700, 701, 702, 703, 713, 723, and 747