12 CFR 622.61 - Adjustment of civil money penalties by the rate of inflation under the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended.

Regulations last checked for updates: May 20, 2024

Title 12 - Banks and Banking last revised: May 16, 2024

View all text of Subpart B [§ 622.51 - § 622.75]

§ 622.61 - Adjustment of civil money penalties by the rate of inflation under the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended.

(a) The maximum amount of each civil money penalty within FCA's jurisdiction is adjusted in accordance with the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended (28 U.S.C. 2461 note), as follows:

(1) Amount of civil money penalty imposed under section 5.32 of the Act for violation of a final order issued under section 5.25 or 5.26 of the Act: The maximum daily amount is $2,830 for violations that occur on or after January 15, 2024.

(2) Amount of civil money penalty for violation of the Act or regulations: the maximum daily amount is $1,280 for each violation that occurs on or after January 15, 2024.

(b) The maximum civil money penalty amount assessed under 42 U.S.C. 4012a(f) is $2,661 for each violation that occurs on or after January 15, 2024, with no cap on the total amount of penalties that can be assessed against any single institution during any calendar year.

[89 FR 2118, Jan. 12, 2024]

authority: Secs. 5.9, 5.10, 5.17, 5.25-5.37 of the Farm Credit Act (12 U.S.C. 2243,2244,2252,2261; 28 U.S.C. 2461 note; and 42 U.S.C. 4012a(f)

source: 51 FR 21139, June 11, 1986, unless otherwise noted.

cite as: 12 CFR 622.61