Search Results for keywords:"Inflation Adjustment"

The Federal Communications Commission (FCC) has finalized a rule adjusting civil monetary penalties for inflation as mandated by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. These changes aim to keep the penalties effective as deterrents by adjusting them according to inflation. The rule specifies the updated penalty amounts for various violations under the Communications Act, and these changes apply to penalties assessed from January 15, 2025, onwards. The FCC has also corrected a previously removed footnote regarding penalties for misrepresentation or lack of candor.

The Farm Credit Administration (FCA) has implemented a rule to adjust civil money penalties (CMPs) for inflation. This adjustment is required annually by law to maintain the penalties' effectiveness as a deterrent. The penalties are related to violations under the Farm Credit Act and the Flood Disaster Protection Act. The new penalty amounts are $2,395 for certain violations of the Farm Credit Act and $2,252 for flood insurance-related violations, effective from January 15, 2021. These changes do not require public notice or comments because they are mandatory and noncontroversial.

The Farm Credit Administration has introduced a final rule adjusting civil money penalties (CMPs) for inflation, in line with the Federal Civil Penalties Inflation Adjustment Act of 1990, as updated. This adjustment ensures that penalties retain their deterrent effect and compliance is maintained with the Farm Credit Act and Flood Disaster Protection Act. The new maximum daily penalties for specific violations have been increased, such as $2,904 for violating a final order and $1,313 for breaching the Farm Credit Act, effective January 15, 2025. These changes, driven by mandatory annual updates, aim to keep CMPs in line with inflation without needing a public comment process.

The Pension Benefit Guaranty Corporation issued a final rule to adjust the maximum civil penalties for certain violations, in line with the Federal Civil Penalties Inflation Adjustment Act of 2015. This adjustment is required annually to account for inflation and affects penalties under specific sections of the Employee Retirement Income Security Act (ERISA). For 2025, the penalty amounts have increased to $2,739 under section 4071 and $365 under section 4302. These adjustments apply to penalties assessed after January 8, 2025.

The Department of Commerce has issued a final rule to adjust civil monetary penalties (CMPs) for inflation, effective January 15, 2021. This adjustment is required by the Federal Civil Penalties Inflation Adjustment Act and aims to ensure the penalties continue to serve as a deterrent. The changes will only apply to penalties with a specific dollar amount and will affect those assessed after the effective date. The penalties are adjusted based on the cost-of-living increase from October 2019 to October 2020.

In compliance with the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, the National Indian Gaming Commission (NIGC) is updating its rules to adjust civil monetary penalties for inflation. These changes are designed to ensure penalties remain effective and serve as a deterrent. For 2021, the cost-of-living adjustment multiplier is 1.01182, raising the maximum penalty from $53,524 to $54,157 per violation. This adjustment applies to penalties assessed after February 1, 2021.

The Department of Education has issued final regulations to adjust civil monetary penalties (CMPs) for inflation, as required by law. This adjustment is based on the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 and affects penalties related to higher education, violations by lenders, and improper lobbying, among others. The new penalty amounts are calculated using a specific multiplier from the Office of Management and Budget, ensuring they retain their deterrent effect. These updates apply to violations occurring after November 2, 2015, and penalties assessed after February 3, 2021.

The U.S. Department of Energy has issued a final rule that updates civil monetary penalties (CMPs) for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act. The increase applies to penalties within the DOE's jurisdiction, ensuring that CMPs retain their deterrent effect. The adjustment, calculated based on changes in the Consumer Price Index, becomes effective on January 14, 2021. This rule complies with federal regulations and has been reviewed to ensure it does not impose new information collection requirements or significant adverse effects on energy supply.

The National Transportation Safety Board (NTSB) has issued a final rule to adjust the civil penalties they can impose for regulatory violations, in compliance with the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The rule, effective January 11, 2021, adjusts the maximum penalty for certain violations from $1,722 to $1,742, based on the 2021 cost-of-living adjustment multiplier provided by the Office of Management and Budget (OMB). This adjustment ensures penalties keep pace with inflation. The adjustment is not a significant regulatory action and does not impose new reporting requirements.

The Federal Energy Regulatory Commission is releasing a final rule to update regulations on the maximum civil monetary penalties for breaking laws under its control. This change is in line with the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, which requires annual inflation adjustments. The rule outlines how to calculate the new adjusted penalties, which will take effect immediately upon publication in the Federal Register. The Commission asserts that public notice and comment were not needed due to legal obligations dictating both the method and amount of these adjustments.