Statutes, codes, and regulations
Code of Federal Regulations
Title 12 - BANKS AND BANKINGChapter VII - NATIONAL CREDIT UNION ADMINISTRATIONSubchapter A - REGULATIONS AFFECTING CREDIT UNIONSPart 747 - ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, RULES OF PRACTICE AND PROCEDURE, AND INVESTIGATIONS
Subpart K - INFLATION ADJUSTMENT OF CIVIL MONETARY PENALTIES
Section 747.1001 - Adjustment of civil monetary penalties by the rate of inflation

12 C.F.R. § 747.1001

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Current through September 30, 2024
Section 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 citationCMP descriptionNew maximum amount
(1) 12 U.S.C. 1782(a)(3) Inadvertent failure to submit a report or the inadvertent submission of a false or misleading report$4,899.
(2) 12 U.S.C. 1782(a)(3) Non-inadvertent failure to submit a report or the non-inadvertent submission of a false or misleading report$48,992.
(3) 12 U.S.C. 1782(a)(3) Failure to submit a report or the submission of a false or misleading report done knowingly or with reckless disregard$2,449,575 or 1% of the total assets of the credit union, whichever is less.
(4) 12 U.S.C. 1782(d)(2)(A) Tier 1 CMP for 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$4,480.
(5) 12 U.S.C. 1782(d)(2)(B) Tier 2 CMP for non-inadvertent failure to submit certified statement or submission of false or misleading statement$44,783.
(6) 12 U.S.C. 1782(d)(2)(C) Tier 3 CMP for failure to submit a certified statement or the submission of a false or misleading statement done knowingly or with reckless disregard$2,239,210 or 1% of the total assets of the credit union, whichever is less.
(7) 12 U.S.C. 1785(a)(3) Non-compliance with insurance logo requirements$153.
(8) 12 U.S.C. 1785(e)(3) Non-compliance with NCUA security requirements$356.
(9) 12 U.S.C. 1786(k)(2)(A) Tier 1 CMP for violations of law, regulation, and other orders or agreements$12,249.
(10) 12 U.S.C. 1786(k)(2)(B) Tier 2 CMP for violations of law, regulation, and other orders or agreements and for recklessly engaging in unsafe or unsound practices or breaches of fiduciary duty$61,238.
(11) 12 U.S.C. 1786(k)(2)(C) Tier 3 CMP for knowingly committing the violations under Tier 1 or 2 (natural person)$2,449,575.
(12) 12 U.S.C. 1786(k)(2)(C) Tier 3 CMP for knowingly committing the violations under Tier 1 or 2 (insured credit union)$2,449,575 or 1% of the total assets of the credit union, whichever is less.
(13) 12 U.S.C. 1786(w)(5)(A)(ii) Non-compliance with senior examiner post-employment restrictions$402,920.
(14) 15 U.S.C. 1639e(k) Non-compliance with appraisal independence requirementsFirst violation: $14,069.
Subsequent violations: $28,135.
(15) 42 U.S.C. 4012a(f)(5) Non-compliance with flood insurance requirements$2,661.

(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.

12 C.F.R. §747.1001

89 FR 1444, Jan. 10, 2024
81 FR 40157, 7/21/2016; 82 FR 7640, 1/23/2017; 83 FR 2031, 1/16/2018; 84 FR 2055, 2/6/2019; 85 FR 2011, 1/14/2020; 85 FR 936, 1/7/2021; 87 FR 380, 1/5/2022; 88 FR 1326, 1/10/2023; 89 FR 1444, 1/10/2024