[Federal Register Volume 89, Number 7 (Wednesday, January 10, 2024)]
[Rules and Regulations]
[Pages 1441-1444]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-00316]


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NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Part 747

RIN 3133-AF58


Civil Monetary Penalty Inflation Adjustment

AGENCY: National Credit Union Administration (NCUA).

ACTION: Final rule.

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SUMMARY: The NCUA Board (Board) is amending its regulations to adjust 
the maximum amount of each civil monetary penalty (CMP) within its 
jurisdiction to account for inflation. This action, including the 
amount of the adjustments, is required under the Federal Civil 
Penalties Inflation Adjustment Act of 1990, as amended by the Debt 
Collection Improvement Act of 1996 and the Federal Civil Penalties 
Inflation Adjustment Act Improvements Act of 2015.

DATES: This final rule is effective January 10, 2024.

FOR FURTHER INFORMATION CONTACT: Gira Bose, Senior Staff Attorney, at 
1775 Duke Street, Alexandria, VA 22314, or telephone: (703) 518-6562.

SUPPLEMENTARY INFORMATION:
I. Legal Background
II. Regulatory Procedures

I. Legal Background

A. Statutory Requirements

    Every Federal agency, including the NCUA, is required by law to 
adjust its maximum CMP amounts each year to account for inflation. 
Prior to this being an annual requirement, agencies were required to 
adjust their CMPs at least once every four years. The previous four-
year requirement stemmed from the Debt Collection Improvement Act of 
1996,\1\ which amended the Federal Civil Penalties Inflation Adjustment 
Act of 1990.\2\
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    \1\ Public Law 104-134, Sec. 31001(s), 110 Stat. 1321-373 (Apr. 
26, 1996). The law is codified at 28 U.S.C. 2461 note.
    \2\ Public Law 101-410, 104 Stat. 890 (Oct. 5, 1990), codified 
at 28 U.S.C. 2461 note.
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    The current annual requirement stems from the Bipartisan Budget Act 
of 2015,\3\ which contains the Federal Civil Penalties Inflation 
Adjustment Act Improvements Act of 2015 (the 2015 amendments).\4\ This 
legislation provided for an initial ``catch-up'' adjustment of CMPs in 
2016, followed by annual adjustments. The catch-up adjustment reset CMP 
maximum amounts by setting aside the inflation adjustments that 
agencies made in prior years and instead calculated inflation with 
reference to the year when each CMP was enacted or last modified by 
Congress. Agencies were required to publish their catch-up adjustments 
in an interim final rule by July 1, 2016, and make them effective by 
August 1, 2016.\5\ The NCUA complied with these requirements in a June 
2016 interim final rule, followed by a November 2016 final rule to 
confirm the adjustments as final.\6\
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    \3\ Public Law 114-74, 129 Stat. 584 (Nov. 2, 2015).
    \4\ 129 Stat. 599.
    \5\ Public Law 114-74, Sec. 701(b)(1), 129 Stat. 584, 599 (Nov. 
2, 2015).
    \6\ 81 FR 40152 (June 21, 2016); 81 FR 78028 (Nov. 7, 2016).
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    The 2015 amendments also specified how agencies must conduct annual 
inflation adjustments after the 2016 catch-up adjustment. Following the 
catch-up adjustment, agencies must make the required adjustments and 
publish them in the Federal Register by January 15 each year.\7\ For 
2017, the NCUA issued an interim final rule on January 6, 2017,\8\ 
followed by a final rule issued on June 23, 2017.\9\ For each of the 
years 2018 through 2023, the NCUA issued a final rule to satisfy the 
agency's annual requirements.\10\ This final rule satisfies the 
agency's requirement for the 2024 annual adjustment.
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    \7\ Public Law 114-74, Sec. 701(b)(1), 129 Stat. 584, 599 (Nov. 
2, 2015).
    \8\ 82 FR 7640 (Jan. 23, 2017).
    \9\ 82 FR 29710 (June 30, 2017).
    \10\ 83 FR 2029 (Jan. 16, 2018); 84 FR 2052 (Feb. 6, 2019); 85 
FR 2009 (Jan. 14, 2020); 86 FR 933 (Jan. 7, 2021); 87 FR 377 (Jan. 
5, 2022); 88 FR 1323 (Jan. 10, 2023).
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    The law provides that the adjustments shall be made notwithstanding 
the section of the Administrative Procedure Act (APA) that requires 
prior notice and public comment for agency rulemaking.\11\ The 2015 
amendments also specify that each CMP maximum must be increased by the 
percentage by which the consumer price index for urban consumers (CPI-
U) \12\ for October of the year immediately preceding the year the 
adjustment is made exceeds the CPI-U for October of the prior year.\13\ 
Thus, for the adjustment to be made in 2024, an agency must compare the 
October 2022 and October 2023 CPI-U figures.
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    \11\ Public Law 114-74, Sec. 701(b)(1), 129 Stat. 584, 599 (Nov. 
2, 2015).
    \12\ This index is published by the Department of Labor, Bureau 
of Labor Statistics, and is available at its website: https://www.bls.gov/cpi/.
    \13\ Public Law 114-74, Sec. 701(b)(2)(B), 129 Stat. 584, 600 
(Nov. 2, 2015).
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    An annual adjustment under the 2015 amendments is not required if a 
CMP has been amended in the preceding 12 months pursuant to other 
authority. Specifically, the statute provides that an agency is not 
required to make an annual adjustment to a CMP if in the preceding 12 
months it has been increased by an amount greater than the annual 
adjustment required by the 2015 amendments.\14\ The NCUA did not make 
any adjustments in the preceding 12 months pursuant to other authority. 
Therefore, this rulemaking adjusts all of the NCUA's CMPs pursuant to 
the 2015 amendments.
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    \14\ Public Law 114-74, Sec. 701(b)(1), 129 Stat. 584, 600 (Nov. 
2, 2015).
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B. Application to the 2024 Adjustments and Office of Management and 
Budget Guidance

    This section applies the statutory requirements and the Office of 
Management and Budget's (OMB) guidance to the NCUA's CMPs and sets 
forth the Board's calculation of the 2024 adjustments.

[[Page 1442]]

    The 2015 amendments directed OMB to issue guidance to agencies on 
implementing the inflation adjustments.\15\ OMB is required to issue 
its guidance each December and, with respect to the 2024 annual 
adjustment, did so on December 19, 2023.\16\ For 2024, Federal agencies 
must adjust the maximum amounts of their CMPs by the percentage by 
which the October 2023 CPI-U (307.671) exceeds the October 2022 CPI-U 
(298.012). The resulting increase can be expressed as an inflation 
multiplier (1.03241) to apply to each current CMP maximum amount to 
determine the adjusted maximum. The OMB guidance also addresses 
rulemaking procedures and agency reporting and oversight requirements 
for CMPs.\17\
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    \15\ Public Law 114-74, Sec. 701(b)(4), 129 Stat. 584, 601 (Nov. 
2, 2015).
    \16\ See OMB Memorandum M-24-07, Implementation of Penalty 
Inflation Adjustments for 2024, Pursuant to the Federal Civil 
Penalties Inflation Adjustment Act Improvements Act of 2015 
(December 19, 2023).
    \17\ Id.
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    The following table presents the adjustment calculations. The 
current maximums are found at 12 CFR 747.1001, as adjusted by the final 
rule that the Board approved in January 2023. This amount is multiplied 
by the inflation multiplier to calculate the new maximum in the far-
right column. Only these adjusted maximum amounts, and not the 
calculations, will be codified at 12 CFR 747.1001 under this final 
rule. The adjusted amounts will be effective upon publication in the 
Federal Register and can be applied to violations that occurred on or 
after November 2, 2015, the date the 2015 amendments were enacted.\18\
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    \18\ Public Law 114-74, 129 Stat. 600 (Nov. 2, 2015).
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    On November 28, 2023, the NCUA announced the reinstatement of the 
program under which the agency assesses CMPs for credit unions failing 
to submit NCUA Form 5300 Call Reports.\19\ As stated in the 
announcement, this program was suspended after the December 2019 cycle 
due to the COVID-19 pandemic. The December 2023 Call Report will be the 
first reporting cycle under the reinstated program and will be due by 
11:59:59 p.m. Eastern time, January 30, 2024.\20\
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    \19\ NCUA Reinstates Civil Money Penalties for Late Call Report 
Filing, November 2023. Announcement available at https://ncua.gov/newsroom/press-release/2023/ncua-reinstates-civil-money-penalties-late-call-report-filing?utm_medium=email&utm_source=NCUAgovdelivery.
    \20\ Id.

                                  Table--Calculation of Maximum CMP Adjustments
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                                                                                                Adjusted maximum
                                                                                                  ($) (current
                                 Description and    Current  maximum                               maximum X
           Citation                 tier \21\             ($)                Multiplier           multiplier,
                                                                                                   rounded to
                                                                                                nearest dollar)
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12 U.S.C. 1782(a)(3)..........  Inadvertent        4,745............                  1.03241  4,899
                                 failure to
                                 submit a report
                                 or the
                                 inadvertent
                                 submission of a
                                 false or
                                 misleading
                                 report.
12 U.S.C. 1782(a)(3)..........  Non-inadvertent    47,454...........                  1.03241  48,992
                                 failure to
                                 submit a report
                                 or the non-
                                 inadvertent
                                 submission of a
                                 false or
                                 misleading
                                 report.
12 U.S.C. 1782(a)(3)..........  Failure to submit  Lesser of                          1.03241  Lesser of
                                 a report or the    2,372,677 or 1%                             2,449,575 or 1%
                                 submission of a    of total credit                             of total CU
                                 false or           union (CU)                                  assets
                                 misleading         assets.
                                 report done
                                 knowingly or
                                 with reckless
                                 disregard.
12 U.S.C. 1782(d)(2)(A).......  Tier 1 CMP for     4,339............                  1.03241  4,480
                                 inadvertent
                                 failure to
                                 submit certified
                                 statement of
                                 insured shares
                                 and charges due
                                 to the National
                                 Credit Union
                                 Share Insurance
                                 Fund (NCUSIF),
                                 or inadvertent
                                 submission of
                                 false or
                                 misleading
                                 statement.
12 U.S.C. 1782(d)(2)(B).......  Tier 2 CMP for     43,377...........                  1.03241  44,783
                                 non-inadvertent
                                 failure to
                                 submit certified
                                 statement or
                                 submission of
                                 false or
                                 misleading
                                 statement.
12 U.S.C. 1782(d)(2)(C).......  Tier 3 CMP for     Lesser of                          1.03241  Lesser of
                                 failure to         2,168,915 or 1%                             2,239,210 or 1%
                                 submit a           of total CU                                 of total CU
                                 certified          assets.                                     assets
                                 statement or the
                                 submission of a
                                 false or
                                 misleading
                                 statement done
                                 knowingly or
                                 with reckless
                                 disregard.
12 U.S.C. 1785(a)(3)..........  Non-compliance     148..............                  1.03241  153
                                 with insurance
                                 logo
                                 requirements.
12 U.S.C. 1785(e)(3)..........  Non-compliance     345..............                  1.03241  356
                                 with NCUA
                                 security
                                 requirements.
12 U.S.C. 1786(k)(2)(A).......  Tier 1 CMP for     11,864...........                  1.03241  12,249
                                 violations of
                                 law, regulation,
                                 and other orders
                                 or agreements.
12 U.S.C. 1786(k)(2)(B).......  Tier 2 CMP for     59,316...........                  1.03241  61,238
                                 violations of
                                 law, regulation,
                                 and other orders
                                 or agreements
                                 and for
                                 recklessly
                                 engaging in
                                 unsafe or
                                 unsound
                                 practices or
                                 breaches of
                                 fiduciary duty.
12 U.S.C. 1786(k)(2)(C).......  Tier 3 CMP for     2,372,677........                  1.03241  2,449,575
                                 knowingly
                                 committing the
                                 violations under
                                 Tier 1 or 2
                                 (natural person).
12 U.S.C. 1786(k)(2)(C).......  Tier 3 (same)      Lesser of                          1.03241  Lesser of
                                 (CU).              2,372,677 or 1%                             2,449,575 or 1%
                                                    of total CU                                 of total CU
                                                    assets.                                     assets
12 U.S.C. 1786(w)(5)(A)(ii)...  Non-compliance     390,271..........                  1.03241  402,920
                                 with senior
                                 examiner post-
                                 employment
                                 restrictions.
15 U.S.C. 1639e(k)............  Non-compliance     13,627...........                  1.03241  14,069
                                 with appraisal
                                 independence
                                 standards (first
                                 violation).
15 U.S.C. 1639e(k)............  Subsequent         27,252...........                  1.03241  28,135
                                 violations of
                                 the same.
42 U.S.C. 4012a(f)(5).........  Non-compliance     2,577............                  1.03241  2,661
                                 with flood
                                 insurance
                                 requirements.
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\21\ The table uses condensed descriptions of CMP tiers. Refer to the U.S. Code citations for complete
  descriptions.


[[Page 1443]]

II. Regulatory Procedures

A. Final Rule Under the APA

    In the 2015 amendments, Congress provided that agencies shall make 
the required inflation adjustments in 2017 and subsequent years 
notwithstanding 5 U.S.C. 553,\22\ which generally requires agencies to 
follow notice-and-comment procedures in rulemaking and to make rules 
effective no sooner than 30 days after publication in the Federal 
Register. The 2015 amendments provide a clear exception to these 
requirements.\23\ In addition, the Board finds that notice-and-comment 
procedures would be impracticable and unnecessary under the APA because 
of the largely ministerial and technical nature of the final rule, 
which affords agencies limited discretion in promulgating the rule, and 
the statutory deadline for making the adjustments.\24\ In these 
circumstances, the Board finds good cause to issue a final rule without 
issuing a notice of proposed rulemaking or soliciting public comments. 
The Board also finds good cause to make the final rule effective upon 
publication because of the statutory deadline. Accordingly, this final 
rule is issued without prior notice and comment and will become 
effective immediately upon publication.
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    \22\ Public Law 114-74, Sec. 701(b)(1), 129 Stat. 584, 599 (Nov. 
2, 2015).
    \23\ See 5 U.S.C. 559; Asiana Airlines v. Fed. Aviation Admin., 
134 F.3d 393, 396-99 (D.C. Cir. 1998).
    \24\ 5 U.S.C. 553(b)(3)(B); see Mid-Tex. Elec. Co-op., Inc. v. 
Fed. Energy Regulatory Comm'n, 822 F.2d 1123 (D.C. Cir. 1987). For 
the same reasons, this final rule does not include the usual 60-day 
comment period under NCUA Interpretive Ruling and Policy Statement 
(IRPS) 87-2, as amended by IRPS 03-2 and 15-1 (Sept. 24, 2015).
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B. Regulatory Flexibility Act

    The Regulatory Flexibility Act (RFA) generally requires that when 
an agency issues a proposed rule or a final rule pursuant to the APA 
\25\ or another law, the agency must prepare a regulatory flexibility 
analysis that meets the requirements of the RFA and publish such 
analysis in the Federal Register.\26\ Specifically, the RFA normally 
requires agencies to describe the impact of a rulemaking on small 
entities by providing a regulatory impact analysis. For purposes of the 
RFA, the Board considers federally insured credit unions (FICUs) with 
assets less than $100 million to be small entities.\27\
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    \25\ 5 U.S.C. 553(b).
    \26\ 5 U.S.C. 603, 604.
    \27\ NCUA IRPS 15-1.
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    As discussed previously, consistent with the APA, the Board has 
determined for good cause that general notice and opportunity for 
public comment is unnecessary, and therefore the Board is not issuing a 
notice of proposed rulemaking.\28\ Rules that are exempt from notice 
and comment procedures are also exempt from the RFA requirements, 
including conducting a regulatory flexibility analysis, when among 
other things the agency for good cause finds that notice and public 
procedure are impracticable, unnecessary, or contrary to the public 
interest.
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    \28\ 5 U.S.C. 553(b)(3)(B).
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    Accordingly, the Board has concluded that the RFA's requirements 
relating to initial and final regulatory flexibility analysis do not 
apply.
    Nevertheless, the Board notes that this final rule will not have a 
significant economic impact on a substantial number of small credit 
unions because it affects only the maximum amounts of CMPs that may be 
assessed in individual cases, which are not numerous and generally do 
not involve assessments at the maximum level. In addition, several of 
the CMPs are limited to a percentage of a credit union's assets. 
Finally, in assessing CMPs, the Board generally must consider a party's 
financial resources.\29\ Because this final rule will affect few, if 
any, small credit unions, the Board certifies that the final rule will 
not have a significant economic impact on a substantial number of small 
entities.
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    \29\ 12 U.S.C. 1786(k)(2)(G)(i).
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C. Paperwork Reduction Act

    The Paperwork Reduction Act of 1995 (PRA) applies to rulemakings in 
which an agency creates a new paperwork burden on regulated entities or 
modifies an existing burden.\30\ For purposes of the PRA, a paperwork 
burden may take the form of either a reporting or a recordkeeping 
requirement, both referred to as information collections. This final 
rule adjusts the maximum amounts of certain CMPs that the Board may 
assess against individuals, entities, or credit unions but does not 
require any reporting or recordkeeping. Therefore, this final rule will 
not create new paperwork burdens or modify any existing paperwork 
burdens.
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    \30\ 44 U.S.C. 3507(d); 5 CFR part 1320.
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D. Executive Order 13132

    Executive Order 13132 encourages independent regulatory agencies to 
consider the impact of their actions on state and local interests. In 
adherence to fundamental federalism principles, the NCUA, an 
independent regulatory agency as defined in 44 U.S.C. 3502(5), 
voluntarily complies with the Executive order. This final rule adjusts 
the maximum amounts of certain CMPs that the Board may assess against 
individuals, entities, and federally insured credit unions, including 
state-chartered credit unions. However, the final rule does not create 
any new authority or alter the underlying statutory authorities that 
enable the Board to assess CMPs. Accordingly, this final rule will not 
have a substantial direct effect on the states, on the connection 
between the national government and the states, or on the distribution 
of power and responsibilities among the various levels of government. 
The Board has determined that this final rule does not constitute a 
policy that has federalism implications for purposes of the Executive 
order.

E. Assessment of Federal Regulations and Policies on Families

    The Board has determined that this final rule will not affect 
family well-being within the meaning of section 654 of the Treasury and 
General Government Appropriations Act, 1999.\31\
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    \31\ Public Law 105-277, 112 Stat. 2681 (Oct. 21, 1998).
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F. Congressional Review Act

    For purposes of the Congressional Review Act,\32\ the OMB 
determines whether a final rule constitutes a ``major rule.'' If the 
OMB deems a rule to be a ``major rule,'' the Congressional Review Act 
generally provides that the rule may not take effect until at least 60 
days following its publication. As required by the Congressional Review 
Act, the Board submitted the final rule and other appropriate reports 
to the OMB which determined that this rule is not a ``major rule.'' The 
Board will also be submitting this rule to Congress and the Government 
Accountability Office for review.
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    \32\ 5 U.S.C. 801-808.
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    The Congressional Review Act defines a ``major rule'' as any rule 
that the Administrator of the Office of Information and Regulatory 
Affairs of the OMB finds has resulted in or is likely to result in (A) 
an annual effect on the economy of $100,000,000 or more; (B) a major 
increase in costs or prices for consumers, individual industries, 
Federal, State, or local government agencies or geographic regions, or 
(C) significant adverse effects on competition, employment, investment, 
productivity, innovation, or on the ability of United States-based 
enterprises to compete with foreign-

[[Page 1444]]

based enterprises in domestic and export markets.\33\
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    \33\ 5 U.S.C. 804(2).
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    For the reasons previously stated, the Board is adopting the final 
rule without the delayed effective date generally prescribed under the 
Congressional Review Act. The delayed effective date required by the 
Congressional Review Act does not apply to any rule for which an agency 
for good cause finds (and incorporates the finding and a brief 
statement of reasons therefor in the rule issued) that notice and 
public procedures thereon are impracticable, unnecessary, or contrary 
to the public interest.\34\
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    \34\ 5 U.S.C. 808.
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List of Subjects in 12 CFR Part 747

    Civil monetary penalties, Credit unions.

    By the National Credit Union Administration Board
Melane Conyers-Ausbrooks,
Secretary of the Board.
    For the reasons stated in the preamble, the Board amends 12 CFR 
part 747 as follows:

PART 747--ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, RULES OF 
PRACTICE AND PROCEDURE, AND INVESTIGATIONS

0
1. The authority for part 747 continues to read as follows:

    Authority:  12 U.S.C. 1766, 1782, 1784, 1785, 1786, 1787, 1790a, 
1790d; 15 U.S.C. 1639e; 42 U.S.C. 4012a; Pub. L. 101-410; Pub. L. 
104-134; Pub. L. 109-351; Pub. L. 114-74.

0
2. Revise Sec.  747.1001 to read as follows:


Sec.  747.1001  Adjustment of civil monetary penalties by the rate of 
inflation.

    (a) The NCUA is required by the Federal Civil Penalties Inflation 
Adjustment Act of 1990 (Pub. L. 101-410, 104 Stat. 890, as amended (28 
U.S.C. 2461 note)), to adjust the maximum amount of each civil monetary 
penalty (CMP) within its jurisdiction by the rate of inflation. The 
following chart displays those adjusted amounts, as calculated pursuant 
to the statute:

------------------------------------------------------------------------
       U.S. Code citation           CMP description   New maximum amount
------------------------------------------------------------------------
(1) 12 U.S.C. 1782(a)(3)........  Inadvertent         $4,899.
                                   failure to submit
                                   a report or the
                                   inadvertent
                                   submission of a
                                   false or
                                   misleading report.
(2) 12 U.S.C. 1782(a)(3)........  Non-inadvertent     $48,992.
                                   failure to submit
                                   a report or the
                                   non-inadvertent
                                   submission of a
                                   false or
                                   misleading report.
(3) 12 U.S.C. 1782(a)(3)........  Failure to submit   $2,449,575 or 1%
                                   a report or the     of the total
                                   submission of a     assets of the
                                   false or            credit union,
                                   misleading report   whichever is
                                   done knowingly or   less.
                                   with reckless
                                   disregard.
(4) 12 U.S.C. 1782(d)(2)(A).....  Tier 1 CMP for      $4,480.
                                   inadvertent
                                   failure to submit
                                   certified
                                   statement of
                                   insured shares
                                   and charges due
                                   to the National
                                   Credit Union
                                   Share Insurance
                                   Fund (NCUSIF), or
                                   inadvertent
                                   submission of
                                   false or
                                   misleading
                                   statement.
(5) 12 U.S.C. 1782(d)(2)(B).....  Tier 2 CMP for non- $44,783.
                                   inadvertent
                                   failure to submit
                                   certified
                                   statement or
                                   submission of
                                   false or
                                   misleading
                                   statement.
(6) 12 U.S.C. 1782(d)(2)(C).....  Tier 3 CMP for      $2,239,210 or 1%
                                   failure to submit   of the total
                                   a certified         assets of the
                                   statement or the    credit union,
                                   submission of a     whichever is
                                   false or            less.
                                   misleading
                                   statement done
                                   knowingly or with
                                   reckless
                                   disregard.
(7) 12 U.S.C. 1785(a)(3)........  Non-compliance      $153.
                                   with insurance
                                   logo requirements.
(8) 12 U.S.C. 1785(e)(3)........  Non-compliance      $356.
                                   with NCUA
                                   security
                                   requirements.
(9) 12 U.S.C. 1786(k)(2)(A).....  Tier 1 CMP for      $12,249.
                                   violations of
                                   law, regulation,
                                   and other orders
                                   or agreements.
(10) 12 U.S.C. 1786(k)(2)(B)....  Tier 2 CMP for      $61,238.
                                   violations of
                                   law, regulation,
                                   and other orders
                                   or agreements and
                                   for recklessly
                                   engaging in
                                   unsafe or unsound
                                   practices or
                                   breaches of
                                   fiduciary duty.
(11) 12 U.S.C. 1786(k)(2)(C)....  Tier 3 CMP for      $2,449,575.
                                   knowingly
                                   committing the
                                   violations under
                                   Tier 1 or 2
                                   (natural person).
(12) 12 U.S.C. 1786(k)(2)(C)....  Tier 3 CMP for      $2,449,575 or 1%
                                   knowingly           of the total
                                   committing the      assets of the
                                   violations under    credit union,
                                   Tier 1 or 2         whichever is
                                   (insured credit     less.
                                   union).
(13) 12 U.S.C. 1786(w)(5)(A)(ii)  Non-compliance      $402,920.
                                   with senior
                                   examiner post-
                                   employment
                                   restrictions.
(14) 15 U.S.C. 1639e(k).........  Non-compliance      First violation:
                                   with appraisal      $14,069.
                                   independence       Subsequent
                                   requirements.       violations:
                                                       $28,135.
(15) 42 U.S.C. 4012a(f)(5)......  Non-compliance      $2,661.
                                   with flood
                                   insurance
                                   requirements.
------------------------------------------------------------------------

    (b) The adjusted amounts displayed in paragraph (a) of this section 
apply to civil monetary penalties that are assessed after the date the 
increase takes effect, including those whose associated violation or 
violations pre-dated the increase and occurred on or after November 2, 
2015.

[FR Doc. 2024-00316 Filed 1-9-24; 8:45 am]
BILLING CODE 7535-01-P