On January 18, 2017, the US Board of Governors of the Federal Reserve System finalized a rule increasing the maximum civil money penalty limits for 2017, as required by law. A civil money penalty is a fine imposed by a federal agency to penalize misconduct. In November 2015, a law was passed that requires all federal agencies to adjust their maximum civil money penalty limits annually for inflation, rather than every four years as previously required. The maximum civil money penalty limits depend on several factors, including the severity and type of violation. Additionally, the law dictates the annual adjustment formula for federal agencies.
The new penalty amounts apply as of January 15, 2017. The final rule is available at: https://www.federalreserve.gov/newsevents/press/bcreg/bcreg20170118a1.pdf.
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