[Federal Register Volume 82, Number 125 (Friday, June 30, 2017)]
[Rules and Regulations]
[Pages 29710-29711]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-13643]



12 CFR Part 747

RIN 3133-AE67

Civil Monetary Penalty Inflation Adjustment

AGENCY: National Credit Union Administration (NCUA).

ACTION: Final rule.


SUMMARY: On January 23, 2017, the NCUA Board (Board) published an 
interim final rule amending its regulations to adjust the maximum 
amount of each civil monetary penalty (CMP) within its jurisdiction to 
account for inflation. This action, including the amount of the 
adjustments, is required under the Federal Civil Penalties Inflation 
Adjustment Act of 1990, as amended by the Debt Collection Improvement 
Act of 1996 and the Federal Civil Penalties Inflation Adjustment Act 
Improvements Act of 2015. This rule finalizes those amendments.

DATES: Effective June 30, 2017.

FOR FURTHER INFORMATION CONTACT: Ian Marenna, Senior Trial Attorney, at 
1775 Duke Street, Alexandria, VA 22314, or telephone: (703) 518-6540.


I. Background
II. Regulatory Procedures

I. Background

    The Debt Collection Improvement Act of 1996 \1\ (DCIA) amended the 
Federal Civil Penalties Inflation Adjustment Act of 1990 \2\ (FCPIA 
Act) to require every federal agency to enact regulations that adjust 
each CMP provided by law under its jurisdiction by the rate of 
inflation at least once every four years. In November 2015, Congress 
further amended the CMP inflation requirements in the Bipartisan Budget 
Act of 2015,\3\ which contains the Federal Civil Penalties Inflation 
Adjustment Act Improvements Act of 2015 (the 2015 amendments).\4\ This 
legislation provides for an initial ``catch-up'' adjustment of CMPs in 
2016, followed by annual inflation adjustments starting in 2017.

    \1\ Public Law 104-134, section 31001(s), 110 Stat. 1321-373 
(Apr. 26, 1996). The law is codified at 28 U.S.C. 2461 note.
    \2\ Public Law 101-410, 104 Stat. 890 (Oct. 5, 1990), also 
codified at 28 U.S.C. 2461 note.
    \3\ Public Law 114-74, 129 Stat. 584 (Nov. 2, 2015).
    \4\ 129 Stat. 599.

    On January 23, 2017, in compliance with the 2015 amendments, the 
Board published the annual inflation adjustments for 2017 in an interim 
final rule with a request for comments in the Federal Register.\5\ In 
calculating the adjustments, the Board reviewed and applied government-
wide guidance issued by the Office of Management and Budget (OMB).\6\ 
In accordance with the procedures and calculations prescribed by the 
2015 amendments and OMB's guidance, the Board adjusted the maximum 
level of each of the CMPs that NCUA has authority to assess. NCUA is 
not, however, required to assess at the new maximum levels and retains 
discretion to assess at lower levels, as it has done historically.\7\

    \5\ 82 FR 7637 (Jan. 23, 2017).
    \6\ Office of Management and Budget, Implementation of the 2017 
Annual Adjustment Pursuant to the Federal Civil Penalties Inflation 
Adjustment Act Improvements Act of 2015, M-17-11 (Dec. 16, 2016).
    \7\ 82 FR 7637, 7639 (Jan. 23, 2017).

    The interim final rule became effective on January 23, 2017. The 
Board received no comments on the rule. Accordingly, this final rule 
confirms the adjustments made in the interim final rule without change.

II. Regulatory Procedures

    Section III of the Supplementary Information in the January 2017 
interim final rule sets forth the Board's analyses under the 
Administrative Procedure Act, the Regulatory Flexibility Act, the 
Paperwork Reduction Act of 1995, the Small Business Regulatory 
Enforcement Fairness Act (SBREFA), Executive Order 13132, and the 
Treasury and General Government Appropriations Act.\8\ Because the 
final rule confirms the interim final rule and does not alter the 
substance of the analyses and determinations accompanying the interim 
final rule, the Board continues to rely on those analyses and 
determinations for purposes of this rulemaking. The Board notes that 
OMB determined that the interim final rule is not a ``major rule'' 
within the meaning of SBREFA.

    \8\ See 82 FR 7640.

[[Page 29711]]


    By the National Credit Union Administration Board on June 23, 
Gerard Poliquin,
Secretary of the Board.

For the reasons stated above, the interim final rule amending 12 CFR 
part 747, published at 82 FR 7637 (Jan. 23, 2017) is adopted as a final 
rule without change.

[FR Doc. 2017-13643 Filed 6-29-17; 8:45 am]