The FDIC, FRB, NCUA, CFPB and FinCEN have each announced adjustments to the maximum amount of civil money penalties (CMP), for which they have assessment authority, to account for inflation. The adjustments serve to maintain the deterrent effect of civil penalties and to promote compliance with the law.
Compliance Resource previously reported of the OCC’s final rule announcing changes to the maximum amount of each civil money penalty for national banks and Federal savings associations to account for inflation.
Each banking agency’s maximum CMPs are available on the Ultimate Compliance Resource page of our website under “Penalties”.