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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. |
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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 |
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:
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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. |
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Timetable:
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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 |