InfoSight Spotlight: Bureau proposes change for CMP inflation adjustments

The Bureau of Consumer Financial Protection has published a proposed rule [83 FR 51653]  that would amend its rule adjusting for inflation the maximum amount of each civil penalty within the Bureau’s jurisdiction to specify that the adjusted civil monetary penalties only apply to assessments whose associated violations occurred on or after November 2, 2015 (the date […]

The Bureau of Consumer Financial Protection has published a proposed rule [83 FR 51653]  that would amend its rule adjusting for inflation the maximum amount of each civil penalty within the Bureau’s jurisdiction to specify that the adjusted civil monetary penalties only apply to assessments whose associated violations occurred on or after November 2, 2015 (the date the 2015 Inflation Adjustment Act amendments were signed into law). Comments are due by November 13, 2018.

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The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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