Search Results for keywords:"cost-of-living adjustment"

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Search Results: keywords:"cost-of-living adjustment"

  • Type:Rule
    Citation:90 FR 1355
    Reading Time:about 8 minutes

    The Consumer Financial Protection Bureau (CFPB) has issued a final rule to adjust civil penalty amounts for inflation, fulfilling the requirements under the Federal Civil Penalties Inflation Adjustment Act. These adjustments ensure that penalties continue to serve as a deterrent and encourage compliance with the law. The new penalty amounts will take effect on January 15, 2025, and apply to violations occurring after November 2, 2015. This rulemaking process does not require public notice or comment due to its technical nature and statutory obligations.

    Simple Explanation

    The CFPB is changing fines to keep up with rising prices so that people follow the rules, starting January 15, 2025, for mistakes made after November 2, 2015.

  • Type:Rule
    Citation:90 FR 1866
    Reading Time:about 7 minutes

    The Department of State issued a final rule to adjust civil monetary penalties (CMP) across several regulatory areas, including fraud, chemical weapons, arms control, and lobbying. The adjustments align with annual inflation guidelines set by the Office of Management and Budget based on a December 2024 cost-of-living adjustment multiplier. These new penalty amounts will apply to violations occurring on or after the rule's effective date, January 10, 2025. The rule ensures penalties keep up with inflation, following mandates from recent legislation and guidelines.

    Simple Explanation

    The Department of State has decided to raise the fees for breaking certain rules, like cheating or breaking weapon laws, to keep up with inflation, so that these fees still feel like a good "ouch" if someone does something wrong. They've used some special rules to do this quickly, and the new fees start from January 10, 2025.

  • Type:Rule
    Citation:86 FR 2539
    Reading Time:about 8 minutes

    The Federal Trade Commission (FTC) has announced new adjustments to civil penalty amounts within its jurisdiction to account for inflation as mandated by the Federal Civil Penalties Inflation Adjustment Act of 2015. These changes, effective from January 13, 2021, affect various penalty amounts, including those related to premerger filing notifications, unfair or deceptive acts, and labeling violations. The adjustments are based on a cost-of-living adjustment formula that compares the Consumer Price Index from two preceding Octobers. This ensures penalties are updated annually to maintain their deterrent effect and to reflect economic changes.

    Simple Explanation

    The FTC is changing the money people have to pay when they break certain rules, like lying in ads or not following label instructions, so that the penalties stay fair and effective as prices go up over time.

  • Type:Rule
    Citation:90 FR 1854
    Reading Time:about 25 minutes

    The U.S. Department of Labor issued a final rule to adjust civil monetary penalties for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act. This rule, effective January 15, 2025, ensures that penalties keep up with inflation, applying a cost-of-living adjustment multiplier based on changes in the Consumer Price Index. The adjustments apply to penalties assessed after the effective date, maintaining the penalties' deterrent effect. This regulation does not consider public comments due to the non-discretionary nature of the inflation adjustments mandated by the Act.

    Simple Explanation

    The government is making sure that the fines people might have to pay if they break certain rules are still fair, even as things cost more over time. They use a special formula to change these fines each year, so they still make sense and stay fair.