other · Treasury · Rule · Published 1996-10-31 · Effective 1996-10-31 · 61 FR 56118
Document
Document number
96-27927
Federal Register citation
61 FR 56118
CFR reference
12 CFR 510
Type
Rule
Action
Final rule.
Category
other
Sub-agency
Treasury
Publication date
1996-10-31
Effective date
1996-10-31
Treasury docket
96-102
Abstract
Congress, in the Federal Civil Monetary Penalty Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996, required all federal agencies with the statutory authority to impose civil monetary penalties (CMPs) to regularly evaluate those CMPs and adjust the maximum CMPs to reflect inflation to ensure that the CMPs continue to maintain their deterrent value. Consequently, OTS is issuing this final rule to implement the required adjustments to each of OTS's CMP statutes.