Regulatory Alerts2023-01-11 | 2023-00327Rules of Practice for Hearings
The Board of Governors of the Federal Reserve System issued a final rule amending 12 CFR Part 263 to adjust civil money penalty amounts for inflation as mandated by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. These adjusted maximum penalties apply to violations occurring on or after November 2, 2015, with assessments made on or after January 11, 2023. The rule updates specific penalty tiers across various statutes, such as increasing first-tier penalties from $4,400 to $4,745, to reflect the October 2022 Consumer Price Index changes.
Share