[Federal Register Volume 85, Number 9 (Tuesday, January 14, 2020)]
[Notices]
[Pages 2132-2134]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-00217]


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FEDERAL DEPOSIT INSURANCE CORPORATION

[3064-ZA12]


Notice of Inflation Adjustments for Civil Money Penalties

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Notice of monetary penalties 2020.

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SUMMARY: The Federal Deposit Insurance Corporation is providing notice 
of its maximum civil money penalties as adjusted for inflation.

DATES: The adjusted maximum amounts of civil money penalties in this 
notice are applicable to penalties assessed after January 15, 2020, for 
conduct occurring on or after November 2, 2015.

FOR FURTHER INFORMATION CONTACT: Graham N. Rehrig, Senior Attorney, 
Legal Division, (202) 898-3829, [email protected]; or Amanda E. Ledig, 
Honors Attorney, Legal Division, (202) 898-6663, [email protected]; 
Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, 
DC 20429.

SUPPLEMENTARY INFORMATION: This notice announces changes to the maximum 
amount of each civil money penalty (CMP) within the Federal Deposit 
Insurance Corporation's (FDIC) jurisdiction to administer to account 
for inflation under the Federal Civil Penalties Inflation Adjustment 
Act of 1990 (1990 Adjustment Act),\1\ as amended by the Federal Civil 
Penalties Inflation Adjustment Act Improvements Act of 2015 (2015 
Adjustment Act).\2\ Under the 1990 Adjustment Act, as amended, federal 
agencies must make annual adjustments to the maximum amount of each CMP 
the agency administers. The Office of Management and Budget (OMB) is 
required to issue guidance to federal agencies no later than December 
15 of each year providing an inflation-adjustment multiplier (i.e., the 
inflation-adjustment factor agencies must use) applicable to CMPs 
assessed in the following year.
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    \1\ Public Law 101-410, 104 Stat. 890, codified at 28 U.S.C. 
2461 note.
    \2\ Public Law 114-74, 701(b), 129 Stat. 599, codified at 28 
U.S.C. 2461 note.
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    Agencies are required to publish their CMPs, adjusted under the 
multiplier provided by the OMB, by January 15 of the applicable year. 
Agencies, like the FDIC, that have codified the statutory formula for 
making the CMP adjustments may make annual inflation adjustments by 
providing notice in the Federal Register.\3\
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    \3\ See Office of Mgmt. & Budget, Exec. Office of the President, 
OMB Memorandum No. M-20-05, Implementation of Penalty Inflation 
Adjustments for 2020, Pursuant to the Federal Civil Penalties 
Inflation Adjustment Act Improvements Act of 2015 4 (2019), https://www.whitehouse.gov/wp-content/uploads/2019/12/M-20-05.pdf (``OMB 
Guidance''); see also 12 CFR 308.132(d) (FDIC regulation that guides 
readers to the Federal Register to see the annual notice of CMP 
inflation adjustments).
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    On December 16, 2019, the OMB issued guidance to affected agencies 
on implementing the required annual adjustment, which guidance included 
the relevant inflation multiplier.\4\ The FDIC has applied that 
multiplier to the maximum CMPs allowable in 2019 for FDIC-supervised 
institutions to calculate the maximum amount of CMPs that may be 
assessed by the FDIC in 2020.\5\ There were no new statutory CMPs 
administered by the FDIC during 2019.
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    \4\ See OMB Guidance at 1 (providing an inflation multiplier of 
1.01764).
    \5\ Penalties assessed for violations occurring prior to 
November 2, 2015, will be subject to the maximum amounts set forth 
in the FDIC's regulations in effect prior to the enactment of the 
2015 Adjustment Act.
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    The following charts provide the inflation-adjusted maximum CMP 
amounts for use after January 15, 2020--the effective date of the 2020 
annual adjustments--under 12 CFR part 308, for conduct occurring on or 
after November 2, 2015:

[[Page 2133]]



                   Maximum Civil Money Penalty Amounts
------------------------------------------------------------------------
                                              Current        Adjusted
                                            maximum CMP     maximum CMP
           U.S. Code citation                (through     \6\ (beginning
                                            January 14,     January 15,
                                               2020)           2020)
------------------------------------------------------------------------
12 U.S.C. 1464(v)
    Tier One CMP \7\....................          $4,027          $4,098
    Tier Two CMP........................          40,269          40,979
    Tier Three CMP \8\..................       2,013,399       2,048,915
12 U.S.C. 1467(d).......................          10,067          10,245
12 U.S.C. 1817(a)
    Tier One CMP \9\....................           4,027           4,098
    Tier Two CMP........................          40,269          40,979
    Tier Three CMP \10\.................       2,013,399       2,048,915
12 U.S.C. 1817(c)
    Tier One CMP........................           3,682           3,747
    Tier Two CMP........................          36,809          37,458
    Tier Three CMP \11\.................       1,840,491       1,872,957
12 U.S.C. 1817(j)(16)
    Tier One CMP........................          10,067          10,245
    Tier Two CMP........................          50,334          51,222
    Tier Three CMP \12\.................       2,013,399       2,048,915
12 U.S.C. 1818(i)(2) \13\
    Tier One CMP........................          10,067          10,245
    Tier Two CMP........................          50,334          51,222
    Tier Three CMP \14\.................       2,013,399       2,048,915
12 U.S.C. 1820(e)(4)....................           9,203           9,365
12 U.S.C. 1820(k)(6)....................         331,174         337,016
12 U.S.C. 1828(a)(3)....................             125             127
12 U.S.C. 1828(h) \15\
    For assessments <10,000.............             125             127
12 U.S.C. 1829b(j)......................          21,039          21,410
12 U.S.C. 1832(c).......................           2,924           2,976
12 U.S.C. 1884..........................             292             297
12 U.S.C. 1972(2)(F)
    Tier One CMP........................          10,067          10,245
    Tier Two CMP........................          50,334          51,222
    Tier Three CMP \16\.................       2,013,399       2,048,915
12 U.S.C. 3909(d).......................           2,505           2,549
15 U.S.C. 78u-2
    Tier One CMP (individuals)..........           9,472           9,639
    Tier One CMP (others)...............          94,713          96,384
    Tier Two CMP (individuals)..........          94,713          96,384
    Tier Two CMP (others)...............         473,566         481,920
    Tier Three CMP (individuals)........         189,427         192,768
    Tier Three CMP (others).............         947,130         963,837
15 U.S.C. 1639e(k)
    First violation.....................          11,563          11,767
    Subsequent violations...............          23,125          23,533
31 U.S.C. 3802..........................          11,463          11,665
42 U.S.C. 4012a(f)......................           2,187           2,226
------------------------------------------------------------------------


 
                                              Current        Adjusted
                                            presumptive     presumptive
              CFR citation                 CMP  (through  CMP (beginning
                                            January 14,     January 15,
                                               2020)           2020)
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12 CFR 308.132(e)(1)(i).................
    Institutions with $25 million or
     more in assets.....................
        1 to 15 days late...............            $552            $562
        16 or more days late............           1,105           1,124
    Institutions with less than $25
     million in assets..................
        1 to 15 days late \17\..........             185             188
        16 or more days late \18\.......             368             374
12 CFR 308.132(e)(1)(ii)................
    Institutions with $25 million or
     more in assets.....................
        1 to 15 days late...............             920             936
        16 or more days late............           1,840           1,872
    Institutions with less than $25
     million in assets..................
        1 to 15 days late...............   1/50,000th of
                                                     the
                                           institution's
                                            total assets

[[Page 2134]]

 
        16 or more days late............   1/25,000th of
                                                     the
                                           institution's
                                            total assets
12 CFR 308.132(e)(2)....................          40,269          40,979
12 CFR 308.132(e)(3)
    Tier One CMP........................           4,027           4,098
    Tier Two CMP........................          40,269          40,979
    Tier Three CMP \19\.................       2,013,399       2,048,915
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    Dated at Washington, DC, on January 7, 2020.

Federal Deposit Insurance Corporation.
Annmarie H. Boyd,
Assistant Executive Secretary.
[FR Doc. 2020-00217 Filed 1-13-20; 8:45 am]
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