Regulatory Alerts2021-01-11 | 2020-27955Collection of Civil Money Penalty Debt
The Federal Deposit Insurance Corporation issued a final rule amending 12 CFR Part 313 to incorporate delinquent civil money penalty debt into its existing corporate debt collection procedures. By adopting existing Treasury regulations, the agency now refers enforcement-related civil money penalties to the Federal Claims Collection Standards for administrative offset and centralized recovery. This procedural update clarifies definitions and delegations of authority, enabling efficient collection of approximately $1 million in preexisting penalties without imposing new reporting burdens on insured institutions.
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