|Title:||Notice of Inflation Adjustments for Civil Money Penalties|
The Office of the Comptroller of the Currency (OCC) is providing notice of its maximum civil money penalties as adjusted for inflation. The inflation adjustments are required to implement the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. On December 14, 2018, the OMB issued guidance to affected agencies on implementing the required annual adjustment, which included the relevant inflation multiplier. The OCC has applied that multiplier to the maximum CMPs allowable in 2018 for national banks and federal savings associations as listed in the 2018 CMP notice to calculate the maximum amount of CMPs that may be assessed by the OCC in 2019. There were no new statutory CMPs administered by the OCC during 2018.
|FR Doc:||2018-27784; correction in C1-2018-27784|
|Comments due date:|
|Final rule effective date:||Adjusted maximum amounts are applicable to penalties assessed after January 1, 2019, for conduct occurring on or after November 2, 2015.|
|Rule compliance date:|
|Related Reg Report item(s):||