AGENCIES ISSUE CMP INFLATION ADJUSTMENTS

The Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, Federal Reserve Board, National Credit Union Association, and Office of the Comptroller of the Currency recently published their annual adjustments to the maximum amount of each civil penalty applicable to institutions under their jurisdiction. The adjustments, required by the Federal Civil Penalties Inflation Adjustment Act of 1990, serve to maintain the deterrent effect of civil penalties and to promote compliance with the law.

Each agency’s updated penalties are available on the Ultimate Compliance Resource page of our website under “Penalties”.

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