[Federal Register Volume 65, Number 185 (Friday, September 22, 2000)]
[Rules and Regulations]
[Pages 57277-57280]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-24431]



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Rules and Regulations
                                                Federal Register
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Federal Register / Vol. 65, No. 185 / Friday, September 22, 2000 / 
Rules and Regulations

[[Page 57277]]



NATIONAL CREDIT UNION ADMINISTRATION

12 CFR Part 747


Civil Monetary Penalty Inflation Adjustment

AGENCY: National Credit Union Administration.

ACTION: Final rule.

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SUMMARY: Congress, in the Federal Civil Penalties Inflation Adjustment 
Act of 1990, as amended by the Debt Collection Improvement Act of 1996, 
required all federal agencies with the authority to impose civil 
monetary penalties (CMPs) to regularly evaluate those CMPs to ensure 
that they continue to maintain their deterrent value. As a result of 
these acts, the head of each agency was required, by October 23, 1996, 
and at least once every four years thereafter, to adjust its CMPs for 
inflation. In 1996, the National Credit Union Administration (NCUA) 
issued a final rule to implement the required adjustments to certain 
CMPs authorized by the Federal Credit Union Act. Since that time, NCUA 
has discovered several more CMPs that should also be adjusted for 
inflation. In order to comply with Congress' mandate to adjust CMPs for 
inflation at least every four years, NCUA is issuing this final rule to 
implement the required adjustments to those CMPs.

EFFECTIVE DATE: October 23, 2000.

FOR FURTHER INFORMATION CONTACT: Allan Meltzer, Associate General 
Counsel, or Jon Canerday, Trial Attorney, Office of General Counsel, 
NCUA, 1775 Duke Street, Alexandria, Virginia 22314, or telephone (703) 
518-6540.

SUPPLEMENTARY INFORMATION:

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 civil monetary penalty (CMP) \3\ provided by law under its 
jurisdiction by the rate of inflation pursuant to the inflation 
adjustment formula in section 5(b) of the FCPIA Act. Each Federal 
agency was required to issue these implementing regulations by October 
23, 1996, and at least once every 4 years thereafter. Section 6 of the 
amended FCPIA Act specifies that inflation-adjusted CMPs will only 
apply to violations that occur after the effective date of the 
adjustment. The inflation adjustment is based on the percentage 
increase in the Consumer Price Index (CPI).\4\ Specifically, section 
5(b) of the FCPIA Act defines ``the term `cost-of-living adjustment' 
[to] mean the percentage (if any) for each civil monetary penalty by 
which--(1) the Consumer Price Index for the month of June of the 
calendar year preceding the adjustment, exceeds (2) the Consumer Price 
Index for the month of June of the calendar year in which the amount of 
such civil monetary penalty was last set or adjusted pursuant to law.'' 
Furthermore, each CMP that has been adjusted for inflation must be 
rounded to a number prescribed by section 5(a) of the FCPIA Act.\5\
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    \1\ Pub. L. 104-134, Sec. 31001(s), 110 Stat. 1321-373, (Apr. 
26, 1996). The provision is codified at 28 U.S.C. 2461 note.
    \2\ Pub. L. 101-410, 104 Stat. 890, (Oct. 5, 1990), also 
codified at 28 U.S.C. 2461 note.
    \3\ Section 3(2) of the amended FCPIA Act defines a CMP as any 
penalty, fine, or other sanction that: (1) either is for a specific 
monetary amount as provided by Federal law or has a maximum amount 
provided for by Federal law; (2) is assessed or enforced by an 
agency pursuant to Federal law; and (3) is assessed or enforced 
pursuant to an administrative proceeding or a civil action in the 
Federal courts.
    \4\ The CPI is published by the Department of Labor, Bureau of 
Statistics, and is available at its website: www.bls.gov/top20.html.
    \5\ NCUA recognizes that the rounding provision of the FCPIA Act 
is capable of differing interpretations. As an example, the 
provision states, in part, that an increase ``shall be rounded to 
the nearest * * * multiple of $1,000 in the case of penalties 
greater than $1,000 but less than or equal to $10,000.'' Section 
5(a)(3), FCPIA Act. NCUA understands that some agencies have chosen 
to determine which rounding rule to follow based upon the amount of 
the increase, rather than the amount of the penalty. In other words, 
the forgoing rounding provision would only be applied if the amount 
of the adjustment was more than $1,000 but less than $10,000. NCUA 
has chosen to follow the language in the statute and therefore has 
adopted an interpretation that selects the appropriate rounding rule 
based upon the amount of the penalty.
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CMPs Previously Adjusted

Calculation of the Adjustment

    With respect to the CMPs authorized by 12 U.S.C. 1786(k)(2), the 
last adjustment for inflation occurred in 1996. Therefore, the current 
adjustment will be the percentage by which the CPI for the month of 
June 1999 exceeds the CPI for the month of June 1996. According to the 
Bureau of Labor Statistics, the CPI for the month of June 1999 was 
166.2 and the CPI for the month of June 1996 was 156.7. When 166.2 is 
divided by 156.7, the result is 1.06. Thus, the CMPs authorized by 12 
U.S.C. 1786(k)(2) should be multiplied by a factor of 1.06 to arrive at 
the new adjusted amounts (before required rounding).
    Section 206(k)(2) of the Federal Credit Union Act, 12 U.S.C. 
1786(k)(2), authorizes NCUA to impose three levels or tiers of CMPs 
upon insured credit unions or institution-affiliated parties.

First Tier CMPs

    First tier CMPs, 12 U.S.C. 1786(k)(2)(A), may be imposed for the 
violation of any law or regulation, the violation of certain final 
orders or temporary orders, the violation of conditions imposed in 
writing by the NCUA Board, or the violation of any written agreement 
between the credit union and NCUA. The statute provides that first tier 
CMPs shall not be more than $5,000 for each day the violation 
continues. After the required adjustment for inflation in 1996, the 
maximum penalty was increased to $5,500 for each day.\6\ Multiplying 
the current penalty of $5,500 by the factor of 1.06 results in $5,830, 
an increase of $330. When that number is rounded as required by the 
FCPIA Act,\7\ the inflation-adjusted maximum for a first tier CMP 
remains $5,500.
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    \6\ The FCPIA Act limited the first adjustment of a CMP to a 
maximum of 10%.
    \7\ ``Any increase determined under this subsection shall be 
rounded to the nearest-- * * * (3) multiple of $1,000 in the case of 
penalties greater than $1,000 but less than or equal to $10,000.'' 
Section 5(a), FCPIA Act. Therefore, $330 is rounded to the nearest 
multiple of $1,000 or to $0.

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[[Page 57278]]

Second Tier CMPs

    Second tier CMPs, 12 U.S.C. 1786(k)(2)(B), are authorized for 
violations described in first tier CMPs, the reckless engaging in an 
unsafe or unsound practice in conducting the affairs of a credit union, 
or the breach of any fiduciary duty, when the violation, practice or 
breach is part of a pattern of misconduct, or causes or is likely to 
cause more than a minimal loss to the credit union, or results in 
pecuniary gain or other benefit. The statute provides a maximum second 
tier CMP of $25,000 for each day the violation, practice or breach 
continues. After the required 1996 adjustment for inflation, the 
maximum penalty was increased to $27,500 per day. Multiplying the 
current penalty of $27,500 by the factor of 1.06 results in $29,150, an 
increase of $1,650. When that number is rounded as required by the 
FCPIA Act,\8\ the inflation-adjusted maximum for a second tier CMP 
remains $27,500.
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    \8\ ``Any increase determined under this subsection shall be 
rounded to the nearest-- * * * (4) multiple of $5,000 in the case of 
penalties greater than $10,000 but less than or equal to $100,000.'' 
Section 5(a), FCPIA Act. Therefore, $1,650 is rounded to the nearest 
multiple of $5,000 or to $0.
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Third Tier CMPs

    Third tier CMPs, 12 U.S.C. 1786(k)(2)(C), may be imposed for any of 
the acts described in second tier CMPs that cause a substantial loss to 
the credit union or a substantial pecuniary gain or other benefit. The 
amount of third tier CMPs depends upon the status of the respondent 
required to pay the CMP, 12 U.S.C. 1786(k)(2)(D). For a person other 
than an insured credit union, under the statute the current maximum 
third tier CMP is $1,000,000 for each day the violation, practice or 
breach continues. For an insured credit union, the statute provides a 
current daily maximum CMP of the lesser of $1,000,000 or 1 percent of 
the total assets of the credit union. In 1996, the maximum CMP for a 
person other than an insured credit union was increased for inflation 
to $1,100,000 per day. At the same time, the maximum CMP for an insured 
credit union was increased to the lesser of $1,100,000 or 1 percent of 
the total assets of the credit union. Multiplying the current penalty 
of $1,100,000 by the factor of 1.06 results in $1,166,000, an increase 
of $66,000. When that number is rounded as required by the FCPIA 
Act,\9\ the new inflation-adjusted third tier CMP becomes $1,175,000.
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    \9\ ``Any increase determined under this subsection shall be 
rounded to the nearest-- * * * (6) multiple of $25,000 in the case 
of penalties greater than $200,000.'' Section 5(a), FCPIA Act. 
Therefore, $66,000 is rounded to the nearest multiple of $25,000 or 
to $75,000.
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CMPs Not Previously Adjusted For Inflation

    NCUA has determined that several additional provisions authorize 
penalties that meet the definition of CMPs. These provisions were not 
previously adjusted for inflation in 1996.

12 U.S.C. 1782(a)(3)

    NCUA is authorized to require credit unions to provide reports of 
condition. The failure to submit a required report or the submission of 
a false or misleading report subjects a credit union to three levels of 
CMPs, depending upon the reasons for noncompliance. For an inadvertent 
failure to submit a report or the inadvertent submission of a false or 
misleading report, the credit union is subject to a penalty of not more 
than $2,000 for each day the failure continues or such false or 
misleading information is not corrected. For a non-inadvertent failure 
to submit a report or for the non-inadvertent submission of a false or 
misleading report, the credit union is subject to a penalty of not more 
than $20,000 for each day the failure continues or such false or 
misleading information is not corrected. Lastly, for a failure to 
submit a report or the submission of a false or misleading report done 
knowingly or with reckless disregard, the credit union is subject to a 
penalty of not more than $1,000,000 or 1 percent of the total assets of 
the credit union, whichever is less, for each day the failure continues 
or such false or misleading information is not corrected.

Calculation of the Adjustment

    The CMPs authorized by 12 U.S.C. 1782(a)(3) were created by 
Congress in 1989. Therefore, the current adjustment will be the 
percentage by which the CPI for the month of June 1999 exceeds the CPI 
for the month of June 1989. According to the Bureau of Labor 
Statistics, the CPI for the month of June 1999 was 166.2 and the CPI 
for the month of June 1989 was 124.1. When 166.2 is divided by 124.1, 
the result is 1.34. Thus, the CMPs authorized by 12 U.S.C. 1782(a)(3) 
should be multiplied by a factor of 1.34 to arrive at the new adjusted 
amounts (before required rounding). However, another provision of the 
FCPIA Act limits the first adjustment of a CMP to an amount not to 
exceed 10 percent of the original penalty.\10\ The amount of increase 
to these CMPs in the final regulation would have been more if this 
limit did not exist.
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    \10\ ``The first adjustment of a civil monetary penalty made 
pursuant to [the FCPIA Act] may not exceed 10 percent of such 
penalty.'' Section 6, FCPIA Act (originally designated as Section 
7).
---------------------------------------------------------------------------

    The maximum CMP authorized by 12 U.S.C. 1782(a)(3) for an 
inadvertent failure to submit a report or the inadvertent submission of 
a false or misleading report is currently $2,000 for each day the 
failure continues or such false or misleading information is not 
corrected. After the required adjustment for inflation, the maximum 
penalty is increased by 10%, or $200, to $2,200 per day.
    The maximum CMP authorized by 12 U.S.C. 1782(a)(3) for a non-
inadvertent failure to submit a report or the non-inadvertent 
submission of a false or misleading report is currently $20,000 for 
each day the failure continues or such false or misleading information 
is not corrected. After the required adjustment for inflation, the 
maximum penalty is increased by 10%, or $2,000, to $22,000 per day.
    The maximum CMP authorized by 12 U.S.C. 1782(a)(3) for a failure to 
submit a report or the submission of a false or misleading report done 
knowingly or with reckless disregard is currently $1,000,000 or 1 
percent of the total assets of the credit union, whichever is less, for 
each day the failure continues or such false or misleading information 
is not corrected. After the required adjustment for inflation, the 
maximum penalty is increased by 10%, or $100,000, to $1,100,000 or 1 
percent of the total assets of the credit union, whichever is less, per 
day.

12 U.S.C. 1782(d)(2)

    In a provision similar to the authority discussed above, NCUA is 
authorized to require each credit union to provide periodic certified 
statements of the amount of insured shares in the credit union, as well 
as to pay required deposits into the National Credit Union Share 
Insurance Fund (NCUSIF). The failure to submit a required certified 
statement or the submission of a false or misleading statement subjects 
a credit union to three tiers of CMPs, depending upon the reasons for 
noncompliance.

Calculation of the Adjustment

    The CMPs authorized by 12 U.S.C. 1782(d)(2) were created by 
Congress in 1991. Therefore, the current adjustment will be the 
percentage by which the CPI for the month of June 1999 exceeds the CPI 
for the month of June 1991. According to the Bureau of Labor

[[Page 57279]]

Statistics, the CPI for the month of June 1999 was 166.2 and the CPI 
for the month of June 1991 was 136. When 166.2 is divided by 136, the 
result is 1.22. Thus, the CMPs authorized by 12 U.S.C. 1782(d)(2) 
should be multiplied by a factor of 1.22 to arrive at the new adjusted 
amounts (before required rounding). However, as noted previously, 
another provision of the FCPIA Act limits the first adjustment of a CMP 
to an amount not to exceed 10 percent of the original penalty. The 
amount of increase to these CMPs in the final regulation would have 
been more if this limit did not exist.

First Tier CMPs

    The maximum CMP authorized by 12 U.S.C. 1782(d)(2)(A) for an 
inadvertent failure to timely submit a certified statement or an 
inadvertent submission of a false or misleading certified statement, is 
currently $2,000 for each day the failure continues or such false or 
misleading information is not corrected. After the required adjustment 
for inflation, the maximum penalty is increased by 10%, or $200, to 
$2,200 per day.

Second Tier CMPs

    The maximum CMP authorized by 12 U.S.C. 1782(d)(2)(B) for a non-
inadvertent failure to timely submit a certified statement, or a non-
inadvertent submission of a false or misleading certified statement, or 
the failure or refusal to pay any required deposit or premium for 
insurance is currently $20,000 for each day the failure continues, such 
false or misleading information is not corrected, or the deposit or 
premium is not paid. After the required adjustment for inflation, the 
maximum penalty is increased by 10%, or $2,000, to $22,000 per day.

Third Tier CMPs

    The maximum CMP authorized by 12 U.S.C. 1782(d)(2)(C) for a failure 
to submit a report or the submission of a false or misleading report 
done knowingly or with reckless disregard is currently $1,000,000 or 1 
percent of the total assets of the credit union, whichever is less, for 
each day the failure continues or such false or misleading information 
is not corrected. After the required adjustment for inflation, the 
maximum penalty is increased by 10%, or $100,000, to $1,100,000 or 1 
percent of the total assets of the credit union, whichever is less, per 
day.

12 U.S.C. 1785(e)(3)

    Pursuant to 12 U.S.C. 1785(e)(1), NCUA is authorized to promulgate 
regulations to provide minimum standards with which each insured credit 
union must comply with respect to security devices and procedures to 
discourage robberies, burglaries and larcenies and to assist in the 
identification and apprehension of persons who commit such acts. A 
credit union that violates such a regulation is subject to a CMP of up 
to $100 for each day the violation continues. 12 U.S.C. 1785(e)(3).

Calculation of the Adjustment

    The CMP authorized by 12 U.S.C. 1785(e)(3), originally passed by 
Congress in 1970, was not adjusted for inflation in 1996. Therefore, 
the current adjustment will be the percentage by which the CPI for the 
month of June 1999 exceeds the CPI for the month of June 1970. 
According to the Bureau of Labor Statistics, the CPI for the month of 
June 1999 was 166.2 and the CPI for the month of June 1970 was 38.8. 
When 166.2 is divided by 38.8, the result is 4.28. Thus, the CMP 
authorized by 12 U.S.C. 1785(e)(3) should be multiplied by a factor of 
4.28 to arrive at the new adjusted amounts (before required rounding). 
However, as discussed previously, the FCPIA Act limits the first 
adjustment of a CMP to an amount not to exceed 10 percent of the 
original penalty. The amount of increase to this CMP in the final 
regulation would have been more if this limit did not exist.
    The maximum CMP authorized by 12 U.S.C. 1785(e)(3) for non-
compliance with NCUA security regulations is currently $100 for each 
day the violation continues. After the required adjustment for 
inflation, the maximum penalty is increased by 10%, or $10, to $110 per 
day.

42 U.S.C. 4012a(f)

    Pursuant to 42 U.S.C. 4012a(f), NCUA is authorized to impose CMPs 
against a credit union that is found to have a pattern or practice of 
committing certain specified actions in violation of the National Flood 
Insurance Program. A credit union that engages in such violations is 
subject to a CMP of up to $350 for each violation. The total amount of 
penalties assessed against any credit union during any calendar year 
may not exceed $100,000. 42 U.S.C. 4012a(f)(5).

Calculation of the Adjustment

    The CMP authorized by 42 U.S.C. 4012a(f), originally passed by 
Congress in 1994, was not adjusted for inflation in 1996. Therefore, 
the current adjustment will be the percentage by which the CPI for the 
month of June 1999 exceeds the CPI for the month of June 1994. 
According to the Bureau of Labor Statistics, the CPI for the month of 
June 1999 was 166.2 and the CPI for the month of June 1994 was 148.0. 
When 166.2 is divided by 148.0, the result is 1.12. Thus, the CMP 
authorized by 42 U.S.C. 4012a(f) should be multiplied by a factor of 
1.12 to arrive at the new adjusted amounts (before required rounding). 
However, as discussed previously, the FCPIA Act limits the first 
adjustment of a CMP to an amount not to exceed 10 percent of the 
original penalty. The amount of increase to this CMP in the final 
regulation would have been more if this limit did not exist.
    The maximum CMP authorized by 42 U.S.C. 4012a(f) for certain 
violations of the National Flood Insurance Program is currently $350 
for each violation, up to a maximum of $100,000 per calendar year. 
After the required adjustment for inflation, the maximum penalty is 
increased by 10%, or $35, to $385 per violation. The annual maximum 
penalty is also increased by 10%, or $10,000, to $110,000 per calendar 
year.
    The NCUA Board now adopts this final rule to adjust the forgoing 
CMPs for the rate of inflation, as required by the FCPIA Act. The FCPIA 
Act provides federal agencies with no discretion in the adjustment of 
CMPs for inflation, and it also requires such adjustments for inflation 
to occur at least every four years. Further, the regulation is 
ministerial and technical and, for these reasons, the NCUA Board finds 
good cause to determine that public notice and comment for this new 
regulation is unnecessary, impractical and contrary to the public 
interest, pursuant to the Administrative Procedure Act (APA), 5 U.S.C. 
553(a)(3)(B).

Regulatory Procedures

Regulatory Flexibility Act

    The NCUA Board certifies that the proposed regulation will not have 
a significant economic impact on a substantial number of small credit 
unions. Small credit unions are defined by NCUA, pursuant to its 
authority to define ``small organizations,'' as those credit unions 
with assets of $1 million or less. 5 U.S.C. 601(4), (6); NCUA IRPS 81-
4, 46 FR 29248 (1981); NCUA IRPS 87-2, 12 CFR 791.8(a). Accordingly, a 
regulatory flexibility analysis is not required.

Paperwork Reduction Act

    No collections of information pursuant to the Paperwork Reduction 
Act (44 U.S.C. 3501 et seq.) are contained in the rule. Consequently, 
no information has been submitted to the

[[Page 57280]]

Office of Management and Budget for review.

Executive Order 13132

    Executive Order 13132 encourages independent regulatory agencies to 
consider the impact of their regulatory actions on state and local 
interests. In adherence to fundamental federalism principles, NCUA, an 
independent regulatory agency as defined in 44 U.S.C. 3502(5), 
voluntarily complies with the Executive Order. This final rule will 
apply to all federally-insured credit unions, but it will not have 
substantial direct effects on the states, on the relationship between 
the national government and the states, or on the distribution of power 
and responsibilities among the various levels of government. NCUA has 
determined the final rule does not constitute a policy that has 
federalism implications for purposes of the Executive Order.

Assessment of Federal Regulations and Policies on Families

    NCUA has determined that this rule will not affect family well-
being within the meaning of section 654 of the Treasury and General 
Government Appropriations Act, 1999, Pub. L. No. 105-277, 112 Stat. 
2681 (1998).

Small Business Regulatory Enforcement Fairness Act

    The Small Business Regulatory Enforcement Fairness Act of 1996 
(Pub. L. No. 104-21) provides generally for congressional review of 
agency rules. A reporting requirement is triggered in instances where 
NCUA issues a final rule as defined by Section 551 of the 
Administrative Procedures Act. 5 U.S.C. 551. The Office of Management 
and Budget has reviewed this rule and has determined that for purposes 
of the Small Business Regulatory Enforcement Fairness Act of 1996 it is 
not a major rule.

List of Subjects in 12 CFR Part 747

    Credit unions, Civil monetary penalties.

    By the National Credit Union Administration Board on September 
6, 2000.
Becky Baker,
Secretary to the Board.

    Accordingly, the NCUA amends 12 CFR part 747 as follows:

PART 747--ADMINISTRATIVE ACTIONS, ADJUDICATIVE HEARINGS, RULES OF 
PRACTICE AND PROCEDURE, AND INVESTIGATIONS

    1. The authority citation for part 747 is revised to read as 
follows:

    Authority: 12 U.S.C. 1766, 1782, 1784, 1785, 1786, 1787; 42 
U.S.C. 4012a; Pub. L. 101-410; Pub.L. 104-134.


    2. Part 747, Subpart K is revised to read as follows:

Subpart K--Inflation Adjustment of Civil Monetary Penalties


Sec. 747.1001  Adjustment of civil money penalties by the rate of 
inflation.

    (a) NCUA is required by the Federal Civil Penalties Inflation 
Adjustment Act of 1990 (Public Law 101-410, 104 Stat. 890, as amended 
(28 U.S.C. 2461 note)) to adjust the maximum amount of each civil money 
penalty within its jurisdiction by the rate of inflation. The following 
chart displays those adjustments, as calculated pursuant to the 
statute:

------------------------------------------------------------------------
     U.S. Code citation          CMP description     New maximum amount
------------------------------------------------------------------------
(1) 12 U.S.C. 1782(a)(3)....  Inadvertent failure   $2,200
                               to submit a report
                               or the inadvertent
                               submission of a
                               false or misleading
                               report.
(2) 12 U.S.C. 1782(a)(3)....  Non-inadvertent       $22,000
                               failure to submit a
                               report or the non-
                               inadvertent
                               submission of a
                               false or misleading
                               report.
(3) 12 U.S.C. 1782(a)(3)....  Failure to submit a   $1,100,000 or 1
                               report or the         percent of the
                               submission of a       total assets of the
                               false or misleading   credit union,
                               report done           whichever is less
                               knowingly or with
                               reckless disregard.
(4) 12 U.S.C. 1782(d)(2)(A).  First tier..........  $2,200
(5) 12 U.S.C. 1782(d)(2)(B).  Second tier.........  $22,000
(6) 12 U.S.C. 1782(d)(2)(C).  Third tier..........  $1,100,000 or 1
                                                     percent of the
                                                     total assets of the
                                                     credit union,
                                                     whichever is less
(7) 12 U.S.C. 1785(e)(3)....  Non-compliance with   $110
                               NCUA security
                               regulations.
(8) 12 U.S.C. 1786(k)(2)(A).  First tier..........  $5,500
(9) 12 U.S.C. 1786(k)(2)(B).  Second tier.........  $27,500
(10) 12 U.S.C. 1786(k)(2)(C)  Third tier..........  For a person other
                                                     than an insured
                                                     credit union:
                                                     $1,175,000;
                                                    For an insured
                                                     credit union:
                                                     $1,175,000 or 1
                                                     percent of the
                                                     total assets of the
                                                     credit union,
                                                     whichever is less
(11) 42 U.S.C. 4012a(f).....  Per violation.......  $385
                              Per calendar year...  $110,000
------------------------------------------------------------------------

    (b) The adjustments displayed in paragraph (a) of this section 
apply to acts occurring beginning on October 23, 2000.

[FR Doc. 00-24431 Filed 9-21-00; 8:45 am]
BILLING CODE 7535-01-P