Search Results for keywords:"inflation adjustment"

The Federal Housing Finance Agency (FHFA) has issued a final rule to update the rules for civil money penalties by adjusting them for inflation. This adjustment is in line with the Federal Civil Penalties Inflation Adjustment Act, ensuring penalties stay current with economic changes. The new penalty amounts will be effective from January 16, 2025, and apply to violations occurring on or after January 15, 2025. The FHFA will calculate penalties on a case-by-case basis, using a formula tied to changes in the Consumer Price Index, and these updates are mandated by law.

The Federal Maritime Commission has issued a final rule to adjust civil monetary penalties for inflation. This adjustment is required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The new penalty amounts are calculated using a formula based on changes in the consumer price index. This rule takes effect on January 15, 2025, and does not require a public comment period due to exemptions from certain rulemaking procedures.

The Postal Service has issued an interim final rule to adjust the penalties for certain offenses under postal regulations, as required by federal law. These adjustments account for inflation and apply to civil monetary penalties related to consumer protection, deceptive mail practices, false representations, and hazardous materials. The changes impact various penalties, including those for using mail to make false claims, conducting lotteries, and mailing hazardous materials, with new penalty amounts specified for each type of violation. These updates ensure that penalties remain effective as deterrents.

The Commodity Futures Trading Commission (CFTC) has issued a final rule to adjust the maximum amount of civil monetary penalties (CMPs) for inflation under the Commodity Exchange Act (CEA). This annual adjustment is required by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended, and ensures that penalties maintain their deterrent effect over time. The rule applies to penalties assessed after January 15, 2021, and is based on the percentage change in the Consumer Price Index. This adjustment process is exempt from the typical notice and comment procedures under the Administrative Procedure Act.

The Federal Maritime Commission issued a final rule to adjust for inflation the civil monetary penalties they assess, following the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This rule requires agencies to announce these adjustments by January 15 every year and is based on changes in the consumer price index. The adjustment process is not required to follow certain procedural steps like public notice or comment, and the rule will not have significant economic impacts. Additionally, the rule doesn’t involve any new collection of information from the public.

The Pension Benefit Guaranty Corporation (PBGC) has issued a final rule to adjust the maximum civil penalties for inflation, as required by federal law. These adjustments, effective January 13, 2021, apply to penalties related to failure to provide certain required notices under the Employee Retirement Income Security Act (ERISA). The maximum penalty under ERISA section 4071 is now $2,259, and the maximum under section 4302 is $301. This change is part of an annual process to ensure penalties keep pace with inflation.

The U.S. Nuclear Regulatory Commission (NRC) is updating its regulations to increase the maximum fines it can impose for violations. These changes are required by a federal law that adjusts penalties for inflation. For violations of the Atomic Energy Act, the penalty will increase from $362,814 to $372,240 per violation, per day. Additionally, for false claims under the Program Fraud Civil Remedies Act, the penalty will increase from $13,946 to $14,308. These new penalties take effect on January 15, 2025.

The Social Security Administration has announced new inflation-adjusted maximum penalties for civil monetary violations, effective from January 15, 2021, to January 14, 2022. The adjustments are required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. For example, the penalty for fraud facilitators in a position of trust has increased to $8,212, and the penalty for a violative broadcast has increased to $54,157. These updates ensure penalties align with inflation and are applied fairly each year.

The United States Department of Agriculture (USDA) announced new reimbursement rates for meals provided under the Summer Food Service Program for 2025. These rates have been adjusted to account for inflation, resulting in an average increase of 3.6% from the previous year. The adjustments are based on changes in the Consumer Price Index and will apply to both operating and administrative costs of the program, which will take effect from January 1, 2025. The changes aim to simplify accounting procedures and ensure sponsors can manage reimbursements efficiently while maintaining nutrition standards.

The Securities and Exchange Commission (SEC) has announced that Cboe BZX Exchange, Inc. is proposing a change to its fee schedule related to the cost of 10 Gb physical ports used for connectivity to the exchange. The monthly fee for these ports will increase from $7,500 to $8,500, which Cboe argues is necessary to maintain and improve its market technology and is still competitive compared to other exchanges. The proposed change aims to account for inflation and additional investments in infrastructure and technology. Interested parties are invited to submit comments on the proposal to the SEC.