On January 17, 2023, the Office of the Comptroller of the Currency (OCC) announced the annual inflation adjustment to the civil money penalty amounts for conduct violations of all types of supervised banking institutions, including branches of foreign national banks, and federal saving associations. The amount is determined by the number of violations and the type of violation. The detailed table outlining the monetary sanctions applicable for specific violations may be found in enclosed document (Link primary source).
The adjustment took effect on January 4, 2023 and applies to conduct violations occurring on or after November 2, 2015.
Other Features
banks
due diligence
governance
penalties
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Date Published: 2023-01-17
Date Taking Effect: 2023-01-04
Regulatory Framework: Federal Civil Penalties Inflation Adjustment Act of 1990
Regulatory Type: regulation
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