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CFPB | RIN: 3170-AA62 | Publication ID: Spring 2019 |
Title: Civil Penalty Inflation Adjustment Rule | |
Abstract:
On November 2, 2015, the President signed into law the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, which further amended the Federal Civil Penalties Inflation Adjustment Act of 1990, to improve the effectiveness of civil monetary penalties and to maintain their deterrent effect. Under the Act, each Federal agency was required to publish by interim final rule, a catch-up inflation adjustment, which was required to take effect by August 1, 2016. The Bureau issued an interim final rule in June 2016. This rule adjusts the civil penalty amounts within the Bureau’s jurisdiction in accordance with that statutory requirement. The Bureau finalized the interim final rule and adjusted for inflation the maximum amount of each civil penalty within the Bureau's jurisdiction on January 15, 2019, effective January 31, 2019. |
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Agency: Consumer Financial Protection Bureau(CFPB) | Priority: Info./Admin./Other |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Completed Actions |
Major: No | Unfunded Mandates: No |
EO 13771 Designation: Independent agency | |
CFR Citation: 12 CFR 1083 | |
Legal Authority: 28 U.S.C. 2461 note |
Legal Deadline:
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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: Kristen Phinnessee Office of Regulations Consumer Financial Protection Bureau Washington, DC 20552 Phone:202 435-7700 |