The NCUA published an Interim Final Rule adjusting the maximum amount of each civil money penalty within its jurisdiction. The Rule is effective upon publication (1/23/17), with a comment period ending on February 22, 2017.
Citation | Description/tier | Current maximum ($) | Adjusted maximum ($) |
12 U.S.C. 1782(a)(3) | Inadvertent failure to submit a report or the inadvertent submission of a false or misleading report |
3,787 |
3,849 |
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 |
37,872 |
38,492 |
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 | Lesser of 1,893,610 or 1% of total CU assets | Lesser of 1,924,589 or 1% of total CU assets. |
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 NCUSIF, or inadvertent submission of false or misleading statement |
3,462 |
3,519 |
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 |
34,620 |
35,186 |
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 | Lesser of 1,730,990 or 1% of total CU assets | Lesser of 1,759,309 or 1% of total CU assets. |
12 U.S.C. 1785(a)(3) | Non-compliance with insurance logo requirements |
118 |
120 |
12 U.S.C. 1785(e)(3) | Non-compliance with NCUA security requirements |
275 |
279 |
12 U.S.C. 1786(k)(2)(A) | Tier 1 CMP for violations of law, regulation, and other orders or agreements |
9,468 |
9,623 |
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 |
47,340 |
48,114 |
12 U.S.C. 1786(k)(2)(C) | Tier 3 CMP for knowingly committing the violations under Tier 1 or 2 (natural person) |
1,893,610 |
1,924,589 |
12 U.S.C. 1786(k)(2)(C) | Tier 3 (same) (CU) | Lesser of 1,893,610 or 1% of total CU assets | Lesser of 1,924,589 or 1% of total CU assets. |
12 U.S.C. 1786(w)(5)(A)(ii) | Non-compliance with senior examiner post-employment restrictions |
311,470 |
316,566 |
15 U.S.C. 1639e(k) | Non-compliance with appraisal independence standards (first violation) |
10,875 |
11,053 |
15 U.S.C. 1639e(k) | Subsequent violations of the same |
21,749 |
22,105 |
42 U.S.C. 4012a(f)(5) | Non-compliance with flood insurance requirements |
2,056 |
2,090 |
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