OCCFinal Rule
Civil Monetary Penalty Inflation Adjustment
Finance & BankingOther
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Summary
The Office of the Comptroller of the Currency (OCC) is adjusting the dollar amounts of fines it can impose on banks and financial institutions to account for inflation. This is a routine update that ensures penalties keep pace with rising costs and remain meaningful deterrents for violations of banking rules.
Key Points
- 1The OCC increased the maximum fines it can issue to banks for breaking federal banking laws to reflect inflation since the last adjustment
- 2This affects all national banks and federal savings associations regulated by the OCC
- 3Higher penalties make it more costly for financial institutions to violate consumer protection and banking safety rules
- 4The adjustment is required by federal law and happens automatically to maintain the real value of penalties over time
- 5Consumers may indirectly benefit if larger potential fines encourage banks to comply better with regulations that protect depositors and borrowers
Key Dates
Published
January 10, 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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