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Implementation of the Program Fraud Civil Remedies Act of 1986

FHFA · final-rule · Published 2016-07-01 · Effective 2016-08-01 · 81 FR 43031

Document

Document number
2016-15620
Federal Register citation
81 FR 43031
CFR reference
12 CFR 1217
Type
Rule
Action
Interim final rule.
Category
final-rule
Agency
US Federal Housing Finance Agency
Publication date
2016-07-01
Effective date
2016-08-01

Abstract

The Federal Housing Finance Agency (FHFA) is adopting an interim final rule to implement the Program Fraud Civil Remedies Act of 1986 (31 U.S.C. 3801 et seq.) (PFCRA), by establishing administrative procedures for imposing civil penalties and assessments against persons who make false, fictitious, or fraudulent claims or written statements to FHFA in the context of its contracting or employment activities, where the amount of money or the value of property or services involved or requested from FHFA is $150,000 or less. FHFA previously issued a notice of proposed rulemaking to implement PFCRA. This rule is issued as an interim final rule rather than as a final rule because it increases the maximum penalty amount set forth in the proposed rule as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (Adjustment Improvements Act), and that Act also requires that such "catch up" adjustments be published in the form of an interim final rule. If, prior to the effective date of the interim final rule, FHFA does not receive any comments from which FHFA concludes that the rule should be revised, this rule will become final without further action by FHFA.

Source

Authoritative
Federal Register document
Machine
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