NCUAFinal Rule
Civil Monetary Penalty Inflation Adjustment
Finance & Banking
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Summary
The National Credit Union Administration (NCUA) is adjusting the penalties it can impose on credit unions for breaking federal rules to keep up with inflation. This means the dollar amounts of fines will increase, reflecting changes in the economy since these penalty levels were last set.
Key Points
- 1The NCUA raises the maximum fines it can issue to credit unions that violate regulations, with increases tied to inflation rates
- 2These adjustments happen automatically each year to ensure penalties remain meaningful and fair rather than losing value over time
- 3Credit unions that break rules may face higher financial penalties, which could affect their operations and member fees
- 4The regulation applies specifically to federal credit unions supervised by the NCUA
- 5Higher penalties aim to encourage better compliance with banking rules that protect consumers and the financial system
Key Dates
Published
January 15, 2025
This summary is for informational purposes only. It may not capture all nuances of the regulation. Always refer to the official text for authoritative information.
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