10 Jan 2025
💰Inflation Adjustments for Civil Money Penalties Effective 2025
Notification of Inflation Adjustments for Civil Money Penalties
Summary
This document announces changes to the Office of the Comptroller of the Currency's (OCC) maximum civil money penalties as adjusted for inflation. The inflation adjustments are required to implement the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.
Agencies
- Treasury Department
- Comptroller of the Currency
Business Impact
$$ - Med
The regulation entails increased civil money penalties due to inflation adjustments. Businesses must be aware of the potential financial liabilities as these penalties apply from January 10, 2025, for relevant conduct and compliance requirements. This impacts overall risk management and compliance strategies within affected organizations.