Search Results for keywords:"Federal Civil Penalties Inflation Adjustment Act"

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.

The Bureau of Consumer Financial Protection issued a final rule to adjust civil penalties for inflation, as mandated by several federal acts. These adjustments are meant to maintain the effectiveness of penalties in promoting compliance with the law. The changes are technical and non-discretionary, following a statutory method, and they apply to penalties assessed from January 15, 2021, for violations occurring on or after November 2, 2015. The rule does not require a public comment process due to its technical nature.

The Farm Credit System Insurance Corporation (FCSIC) has issued a final rule addressing adjustments to civil money penalties (CMPs), in compliance with the 2015 amendments to the Federal Civil Penalties Inflation Adjustment Act of 1990. These adjustments ensure that penalties remain effective as a deterrent by accounting for inflation, with new amounts applying from January 15, 2025, for any conduct from November 2, 2015, onward. The updated penalty for violations under section 5.65(c) or (d) of the Farm Credit Act is $264 per day. This rule bypasses standard procedure for public comment due to statutory requirements.

The Office of the Comptroller of the Currency (OCC) announced adjustments to its maximum civil money penalties to account for inflation. These changes are in line with the Federal Civil Penalties Inflation Adjustment Act of 1990, updated by the Improvements Act of 2015. The updates apply to penalties assessed starting January 10, 2025, for violations occurring on or after November 2, 2015. The OCC used guidance from the Office of Management and Budget to apply the inflation multiplier required for the adjustment.

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 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 National Credit Union Administration (NCUA) is updating its rules to increase the maximum civil monetary penalties to keep up with inflation, as required by several laws. These adjustments are made to ensure that penalties are effective and reflect current economic conditions. The adjustments will be effective immediately and apply to violations occurring from November 2, 2015, onwards. This rule change doesn't require public comment because it's mainly a technical update in line with legal requirements.

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 Bureau of Ocean Energy Management (BOEM) has issued a final rule that updates the maximum daily civil penalties for violations related to the Outer Continental Shelf Lands Act (OCSLA) and the Oil Pollution Act of 1990 (OPA). These updates adjust for inflation, applying a 2025 multiplier set at 1.02598, which reflects inflation from October 2023 through October 2024. The adjusted penalties now stand at $55,764 for OCSLA and $59,114 for OPA violations. These changes, effective January 13, 2025, ensure BOEM penalties maintain their deterrent effect and comply with the Federal Civil Penalties Inflation Adjustment Act. The adjustments are automatic and exempt from the usual rulemaking procedures like public commentary.

The Department of Homeland Security (DHS) issued a final rule to adjust civil monetary penalties for inflation, effective January 2, 2025. These adjustments are in line with the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 and guidance from the Office of Management and Budget. This rule increases penalty amounts for violations occurring after November 2, 2015, and applies to various DHS components like the U.S. Customs and Border Protection, U.S. Immigration and Customs Enforcement, and the Coast Guard. The updated penalty amounts are designed to maintain their deterrent effect and comply with mandatory legislative requirements.