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Rule2024-005942024-01-12

Inflation Adjustment of Civil Monetary Penalties

Treasury Department, Foreign Assets Control Office

Abstract

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing this final rule to adjust certain civil monetary penalties for inflation pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.

Action & Dates

Action
Final rule.
Dates
This rule is effective January 12, 2024.
Effective Date
2024-01-12

CFR References

31 CFR Part 50131 CFR Part 51031 CFR Part 53531 CFR Part 53631 CFR Part 53931 CFR Part 54131 CFR Part 54231 CFR Part 54431 CFR Part 54631 CFR Part 54731 CFR Part 54831 CFR Part 54931 CFR Part 55131 CFR Part 55231 CFR Part 55331 CFR Part 55531 CFR Part 55831 CFR Part 56031 CFR Part 56131 CFR Part 56631 CFR Part 57031 CFR Part 57631 CFR Part 57831 CFR Part 58331 CFR Part 58431 CFR Part 58831 CFR Part 58931 CFR Part 59031 CFR Part 59231 CFR Part 59431 CFR Part 59731 CFR Part 598

Topics

Administrative practice and procedureBanks, bankingBlocking of assetsExportsForeign tradePenalties

Document Excerpt

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Treasury Office of Foreign Assets Control 31 CFR Parts 501, 510, 535, 536, 539, 541, 542, 544, 546, 547, 548, 549, 551, 552, 553, 555, 558, 560, 561, 566, 570, 576, 578, 583, 584, 588, 589, 590, 592, 594, 597, and 598 AGENCY: Office of Foreign Assets Control, Treasury. ACTION: Final rule. SUMMARY: The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing this final rule to adjust certain civil monetary penalties for inflation pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. DATES: This rule is effective January 12, 2024. FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for Licensing, 202-622-2480; Assistant Director for Regulatory Affairs, 202-622-4855; Assistant Director for Compliance, 202-622-2490. SUPPLEMENTARY INFORMATION: Electronic Availability This document and additional information concerning OFAC are available from OFAC's website ( www.treas.gov/​ofac ). Background Section 4 of the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, 104 Stat. 890; 28 U.S.C. 2461 note ), as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 ( Pub. L. 114-74 , 129 Stat. 599, 28 U.S.C. 2461 note ) (the FCPIA Act), requires each federal agency with statutory authority to assess civil monetary penalties (CMPs) to adjust CMPs annually for inflation accor…

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Citation: 89 FR 2139

Inflation Adjustment of Civil Monetary Penalties — Federal Register 2024-00594 | Open Gov by Base