Federal Register, Volume 74, Number 41, March 4, 2009, Pages 9343-9564 Page: 9,350
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Federal Register/Vol. 74, No. 41/Wednesday, March 4, 2009/Rules and Regulations
Amount of Adjusted
Current maximum Percentage increase -ate
U.S. code citation Tier or description Currenal mtymum Percentage Amount f increase-- maximum
(if applicable) (in dollars) increase (in dollars) rounding4 (in dollars)alty
(in dollars) (in dollars)
12 U.S.C. 1782(a)(3) ...................... Inadvertent .............. $2,200 5 .............. 9.8 $216 $0 No Change.
Non-inadvertent ....... 22,000 ................ 9.8 2,156 0 No Change.
Intentional or reck- 1,175,000 (or 1% 9.8 115,150 125,000 $1,300,000 (or
less. of total assets). 1% of total as-
sets).
12 U.S.C. 1782(d)(2) ...................... Tier 1 ....................... 2,200 .................. 9.8 216 0 No Change.
Tier 2 ........................ 22,000 ................ 9.8 2,156 0 No Change.
Tier 3 ........................ 1,175,000 (or 1% 9.8 115,150 125,000 1,300,000 (or 1%
of total assets). of total assets).
12 U.S.C. 1785(e)(3) ....................... ............... ................ 110 ..................... 9.8 11 0 No Change.
12 U.S.C. 1786(k)(2) ...................... Tier 1 ....................... 6,500 .................. 9.8 637 1,000 7,500.
Tier 2 ........................ 32,500 ................ 9.8 3,185 5,000 37,500.
Tier 3 ........................ 1,250,000 (for 9.8 122,500 125,000 1,375,000 (for
natural person) natural person)
1,250,000 (or 1,375,000 (or
1% of total as- 1% of total as-
sets) (for CU). sets) (for CU).
42 U.S.C. 4012a(f) .......................... Per violation ............ 385 ..................... 9.8 38 0 No Change.
Per year .................. 120,000 .............. 9.8 11,760 10,000 130,000.The NCUA Board now adopts this
final rule to adjust the forgoing CMPs
for the rate of inflation, as required by
the FCPIA Act. As provided in the final
rule, the revised CMP amounts will only
apply to violations that occur after the
effective date of the final rule.
C. Regulatory Procedures
Final Rule Under the Administrative
Procedures Act
The FCPIA Act requires adjustments
of CMPs for inflation to occur at least
every four years. The FCPIA Act
provides federal agencies with no
discretion in the adjustment of CMPs for
inflation. Thus, NCUA is unable to vary
the amount of the adjustments to reflect
any views or suggestions provided by
commenters. Further, the regulation is
ministerial and technical. For all of
these reasons, the NCUA Board finds
good cause to determine that public
notice and comment for this new
regulation is unnecessary, impractical
and contrary to the public interest,
pursuant to the Administrative
Procedure Act (APA), 5 U.S.C.
553(b)(3)(B). These same reasons also
provide the Board with good cause to
4 The FCPIA Act's rounding rules require that an
increase of a CMP be rounded to the nearest
multiple of: $10 in the case of penalties less than
or equal to $100; $100 in the case of penalties
greater than $100 but less than or equal to $1,000;
$1,000 in the case of penalties greater than $1,000
but less than or equal to $10,000; $5,000 in the case
of penalties greater than $10,000 but less than or
equal to $100,000; $10,000 in the case of penalties
greater than $100,000 but less than or equal to
$200,000; and $25,000 in the case of penalties
greater than $200,000. Section 5(a) of the FCPIA
Act, 28 U.S.C. 2461 note.
5 Erroneously published in the Federal Register
as $22,000.adopt an effective date for this
regulation that is less than 30 days after
the date of publication in the Federal
Register, pursuant to the APA, 5 U.S.C.
553(d).
Regulatory Flexibility Act
The Regulatory Flexibility Act
requires NCUA to prepare an analysis to
describe any significant economic
impact a rule may have on a substantial
number of small credit unions (those
under ten million dollars in assets). This
final rule would not have a significant
economic impact on a substantial
number of small credit unions, and,
therefore, a regulatory flexibility
analysis is not required.
Paperwork Reduction Act
NCUA has determined that this final
rule would not increase paperwork
requirements under the Paperwork
Reduction Act of 1995 and regulations
of the Office of Management and
Budget.
Executive Order 13132
Executive Order 13132 encourages
independent regulatory agencies to
consider the impact of their regulatory
actions on state and local interests. In
adherence to fundamental federalism
principles, NCUA, an independent
regulatory agency as defined in 44
U.S.C. 3502(5), voluntarily complies
with the Executive Order. This final rule
will apply to all federally-insured credit
unions, but it will not have substantial
direct effects on the states, on the
relationship between the national
government and the states, or on the
distribution of power and
responsibilities among the variouslevels of government. NCUA has
determined the final rule does not
constitute a policy that has federalism
implications for purposes of the
Executive Order.
The Treasury and General Government
Appropriations Act, 1999-Assessment
of Federal Regulations and Policies on
Families
NCUA has determined that this rule
will not affect family well-being within
the meaning of section 654 of the
Treasury and General Government
Appropriations Act, 1999, Public Law
No. 105-277, 112 Stat. 2681 (1998).
Small Business Regulatory Enforcement
Fairness Act
The Small Business Regulatory
Enforcement Fairness Act of 1996
(SBREFA) (Pub. L. 104-121) provides
generally for congressional review of
agency rules. A reporting requirement is
triggered in instances where NCUA
issues a final rule as defined by Section
551 of the Administrative Procedures
Act. 5 U.S.C. 551. The Office of
Management and Budget has reviewed
this rule and has determined that for
purposes of SBREFA, it is not a major
rule.
List of Subjects in 12 CFR Part 747
Credit unions, Civil monetary
penalties.
By the National Credit Union
Administration Board on January 5, 2009.
Mary Rupp,
Secretary of the Board.
Accordingly, the NCUA amends 12
CFR part 747 as follows:9350
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United States. Office of the Federal Register. Federal Register, Volume 74, Number 41, March 4, 2009, Pages 9343-9564, periodical, March 4, 2009; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc132903/m1/15/: accessed March 19, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.