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 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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