Consumer bureau publishes 2.5% CMP inflation adjustment

A final rule to implement a 2.5% increase in maximum civil money penalties (CMP) that may be assessed by the Consumer Financial Protection Bureau (CFPB) was signed Jan. 6 by agency Director Kathleen (“Kathy”) Kraninger and posted Jan. 15 in the rulemakings section of the agency’s website.

This is the same CMP inflation adjustment that was recently announced by the National Credit Union Administration (NCUA) and Office of the Comptroller of the Currency (OCC).

The 2.5% adjustment is based on guidance from the Office of Management and Budget. The adjustment is effective upon publication in the Federal Register.

Civil Penalty Inflation Adjustments (Notice for Federal Register)