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TREAS/OCC RIN: 1557-AE04 Publication ID: Fall 2016 
Title: Civil Money Penalty Inflation Adjustments  
Abstract:

The OCC issued an interim final rule implementing the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (the 2015 Act) (Pub. L. 114-74, title VII, section 701(b), November 2, 2015) and Office of Management and Budget guidance issued on February 24, 2016. The 2015 Act amended the Federal Civil Penalties Inflation Adjustment Act of 1990 (codified at 28 U.S.C. 2461 note). The 2015 Act changed the formula for calculating inflation adjustments and required agencies to adjust penalties for inflation on an annual basis.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: uncollected 
CFR Citation: 12 CFR 19    12 CFR 109   
Legal Authority: 5 U.S.C. 504    5 U.S.C. 554-557    12 U.S.C. 93(b)    12 U.S.C. 93a    12 U.S.C. 164    12 U.S.C. 505    12 U.S.C. 1464    12 U.S.C. 1467    12 U.S.C. 1467a    12 U.S.C. 1468    12 U.S.C. 1817 to 1818    12 U.S.C. 1820    12 U.S.C. 1829(e)    12 U.S.C. 1831m    12 U.S.C. 1831o    12 U.S.C. 1972    12 U.S.C. 3102    12 U.S.C. 3108(a)    12 U.S.C. 3349    12 U.S.C. 3909    12 U.S.C. 4717    12 U.S.C. 5412(b)(2)(B)    15 U.S.C. 78(h) to (i)    15 U.S.C. 78l    15 U.S.C. 78o-4(c)    15 U.S.C. 78o-5    15 U.S.C. 78q-1    15 U.S.C. 78s    15 U.S.C. 78u    15 U.S.C. 78u-2    15 U.S.C. 78u-3    15 U.S.C. 78w    28 U.S.C. 2461 note    31 U.S.C. 330    31 U.S.C. 5321    42 U.S.C. 4012a    Pub. L. 114-74, title VII, sec 701(b)   
Legal Deadline:
Action Source Description Date
Other  Statutory  Effective Date of Interim Final Rule  08/01/2016 
Other  Statutory  Publication of Interim Final Rule  07/01/2016 

Overall Description of Deadline: The Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 requires the OCC to issue an interim final rule by July 1, 2016 with an effective date of August 1, 2016.

Timetable:
Action Date FR Cite
Interim Final Rule  07/01/2016  81 FR 43021   
Interim Final Rule Effective  08/01/2016 
Interim Final Rule  01/00/2017 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Jean Campbell
Counsel
Department of the Treasury
Comptroller of the Currency
Legislative and Regulatory Activities Division, 400 7th Street SW.,
Washington, DC 20219
Phone:202 649-6293
Email: jean.campbell@occ.treas.gov