2312 Federal Register / Vol. 87, No. 10 / Friday, January 14, 2022 / Rules and Regulations 

1Public Law 114–74, 129 Stat. 599 (2015) 

(codified at 28 U.S.C. 2461 note). 

2 28 U.S.C. 2461 note, section 4(b)(1). 

3 77 FR 68680 (Nov. 16, 2012). 

4OMB Memorandum M–22–07, Implementation 

of Penalty Inflation Adjustments for 2022, Pursuant 

to the Federal Civil Penalties Inflation Adjustment 

Act Improvements Act of 2015 (Dec. 15, 2021). 

5Under the 2015 Act and implementing OMB 

guidance, agencies are not required to make an 

adjustment to a CMP if, during the 12 months 

preceding the required adjustment, such penalty 

increased due to a law other than the 2015 Act by 

an amount greater than the amount of the required 

adjustment. No other laws have adjusted the CMPs 

within the Board’s jurisdiction during the preceding 

12 months. 

is not subject to the requirements of the 

Paperwork Reduction Act of 1995. 

XI. Congressional Review Act 

This final rule is a rule as defined in 

the Congressional Review Act (5 U.S.C. 

801–808). However, the Office of 

Management and Budget has not found 

it to be a major rule as defined in the 

Congressional Review Act. 

List of Subjects 

10 CFR Part 2 

Administrative practice and 

procedure, Antitrust, Byproduct 

material, Classified information, 

Confidential business information, 

Freedom of information, Environmental 

protection, Hazardous waste, Nuclear 

energy, Nuclear materials, Nuclear 

power plants and reactors, Penalties, 

Reporting and recordkeeping 

requirements, Sex discrimination, 

Source material, Special nuclear 

material, Waste treatment and disposal. 

10 CFR Part 13 

Administrative practice and 

procedure, Claims, Fraud, Organization 

and function (Government agencies), 

Penalties. 

For the reasons set out in the 

preamble and under the authority of the 

Atomic Energy Act of 1954, as amended; 

the Energy Reorganization Act of 1974, 

as amended; 28 U.S.C. 2461 note; and 5 

U.S.C. 552 and 553, the NRC is adopting 

the following amendments to 10 CFR 

parts 2 and 13: 

PART 2—AGENCY RULES OF 

PRACTICE AND PROCEDURE 

■ 1. The authority citation for part 2 

continues to read as follows: 

Authority: Atomic Energy Act of 1954, 

secs. 29, 53, 62, 63, 81, 102, 103, 104, 105, 

161, 181, 182, 183, 184, 186, 189, 191, 234 

(42 U.S.C. 2039, 2073, 2092, 2093, 2111, 

2132, 2133, 2134, 2135, 2201, 2231, 2232, 

2233, 2234, 2236, 2239, 2241, 2282); Energy 

Reorganization Act of 1974, secs. 201, 206 

(42 U.S.C. 5841, 5846); Nuclear Waste Policy 

Act of 1982, secs. 114(f), 134, 135, 141 (42 

U.S.C. 10134(f), 10154, 10155, 10161); 

Administrative Procedure Act (5 U.S.C. 552, 

553, 554, 557, 558); National Environmental 

Policy Act of 1969 (42 U.S.C. 4332); 44 U.S.C. 

3504 note. 

Section 2.205(j) also issued under 28 

U.S.C. 2461 note. 

§ 2.205 [Amended] 

■ 2. In § 2.205, amend paragraph (j) by 

removing the amount ‘‘$307,058’’ and 

adding in its place the amount 

‘‘$326,163’’. 

PART 13—PROGRAM FRAUD CIVIL 

REMEDIES 

■ 3. The authority citation for part 13 

continues to read as follows: 

Authority: 31 U.S.C. 3801 through 3812; 

44 U.S.C. 3504 note. 

Section 13.3 also issued under 28 

U.S.C. 2461 note. 

Section 13.13 also issued under 31 

U.S.C. 3730. 

§ 13.3 [Amended] 

■ 4. In § 13.3, amend paragraphs 

(a)(1)(iv) and (b)(1)(ii) by removing the 

amount ‘‘$11,803’’ and adding in its 

place the amount ‘‘$12,537’’. 

Dated: December 22, 2021. 

For the Nuclear Regulatory Commission. 

Daniel H. Dorman, 

Executive Director for Operations. 

[FR Doc. 2022–00010 Filed 1–13–22; 8:45 am] 

BILLING CODE 7590–01–P 

FEDERAL RESERVE SYSTEM 

12 CFR Part 263 

[Docket No. R–1759] 

RIN 7100–AG22 

Rules of Practice for Hearings 

AGENCY: Board of Governors of the 

Federal Reserve System. 

ACTION: Final rule. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (the ‘‘Board’’) is 

issuing a final rule amending its rules of 

practice and procedure to adjust the 

amount of each civil money penalty 

(‘‘CMP’’) provided by law within its 

jurisdiction to account for inflation as 

required by the Federal Civil Penalties 

Inflation Adjustment Act Improvements 

Act of 2015. 

DATES: This final rule is effective on 

January 14, 2022. 

FOR FURTHER INFORMATION CONTACT: 

Thomas O. Kelly, Senior Counsel (202– 

974–7059), Legal Division, Board of 

Governors of the Federal Reserve 

System, 20th Street and Constitution 

Ave. NW, Washington, DC 20551. You 

may also contact us at https://

www.federalreserve.gov/apps/ 

ContactUs/feedback.aspx, choose Staff 

Group: Regulations. 

SUPPLEMENTARY INFORMATION: 

Federal Civil Penalties Inflation 

Adjustment Act 

The Federal Civil Penalties Inflation 

Adjustment Act of 1990, 28 U.S.C. 2461 

note (‘‘FCPIA Act’’), requires federal 

agencies to adjust, by regulation, the 

CMPs within their jurisdiction to 

account for inflation. The Federal Civil 

Penalties Inflation Adjustment Act 

Improvements Act of 2015 (the ‘‘2015 

Act’’) 1 amended the FCPIA Act to 

require federal agencies to make annual 

adjustments not later than January 15 of 

every year.2 The Board is now issuing a 

new final rule to set the CMP levels 

pursuant to the required annual 

adjustment for 2022. The Board will 

apply these adjusted maximum penalty 

levels to any penalties assessed on or 

after January 14, 2022, whose associated 

violations occurred on or after 

November 2, 2015. Penalties assessed 

for violations occurring prior to 

November 2, 2015 will be subject to the 

amounts set in the Board’s 2012 

adjustment pursuant to the FCPIA Act.3

Under the 2015 Act, the annual 

adjustment to be made for 2022 is the 

percentage by which the Consumer 

Price Index for the month of October 

2021 exceeds the Consumer Price Index 

for the month of October 2020. On 

December 15, 2021, as directed by the 

2015 Act, the Office of Management and 

Budget (OMB) issued guidance to 

affected agencies on implementing the 

required annual adjustment which 

included the relevant inflation 

multiplier.4 Using OMB’s multiplier, the 

Board calculated the adjusted penalties 

for its CMPs, rounding the penalties to 

the nearest dollar.5

Administrative Procedure Act 

The 2015 Act states that agencies 

shall make the annual adjustment 

‘‘notwithstanding section 553 of title 5, 

United States Code.’’ Therefore, this 

rule is not subject to the provisions of 

the Administrative Procedure Act (the 

‘‘APA’’), 5 U.S.C. 553, requiring notice, 

public participation, and deferred 

effective date. 

Regulatory Flexibility Act 

The Regulatory Flexibility Act, 5 

U.S.C. 601 et seq., requires a regulatory 

flexibility analysis only for rules for 

which an agency is required to publish 


lotter on DSK11XQN23PROD with RULES1
Federal Register / Vol. 87, No. 10 / Friday, January 14, 2022 / Rules and Regulations 2313 

a general notice of proposed 

rulemaking. Because the 2015 Act states 

that agencies’ annual adjustments are to 

be made notwithstanding section 553 of 

title 5 of United States Code—the APA 

section requiring notice of proposed 

rulemaking—the Board is not 

publishing a notice of proposed 

rulemaking. Therefore, the Regulatory 

Flexibility Act does not apply. 

Paperwork Reduction Act 

There is no collection of information 

required by this final rule that would be 

subject to the Paperwork Reduction Act 

of 1995, 44 U.S.C. 3501 et seq. 

List of Subjects in 12 CFR Part 263 

Administrative practice and 

procedure, Claims, Crime, Equal access 

to justice, Lawyers, Penalties. 

Authority and Issuance 

For the reasons set forth in the 

preamble, the Board amends 12 CFR 

part 263 as follows: 

PART 263—RULES OF PRACTICE FOR 

HEARINGS 

■ 1. The authority citation for part 263 

continues to read as follows: 

Authority: 5 U.S.C. 504, 554–557; 12 

U.S.C. 248, 324, 334, 347a, 504, 505, 1464, 

1467, 1467a, 1817(j), 1818, 1820(k), 1829, 

1831o, 1831p–1, 1832(c), 1847(b), 1847(d), 

1884, 1972(2)(F), 3105, 3108, 3110, 3349, 

3907, 3909(d), 4717; 15 U.S.C. 21, 78l(i), 

78o–4, 78o–5, 78u–2; 1639e(k); 28 U.S.C. 

2461 note; 31 U.S.C. 5321; and 42 U.S.C. 

4012a. 

■ 2. Section 263.65 is revised to read as 

follows: 

§ 263.65 Civil money penalty inflation 

adjustments. 

(a) Inflation adjustments. In 

accordance with the Federal Civil 

Penalties Inflation Adjustment Act 

Improvements Act of 2015, which 

further amended the Federal Civil 

Penalties Inflation Adjustment Act of 

1990, the Board has set forth in 

paragraph (b) of this section the 

adjusted maximum amounts for each 

civil money penalty provided by law 

within the Board’s jurisdiction. The 

authorizing statutes contain the 

complete provisions under which the 

Board may seek a civil money penalty. 

The adjusted civil money penalties 

apply only to penalties assessed on or 

after January 14, 2022, whose associated 

violations occurred on or after 

November 2, 2015. 

(b) Maximum civil money penalties. 

The maximum (or, in the cases of 12 

U.S.C. 334 and 1832(c), fixed) civil 

money penalties as set forth in the 

referenced statutory sections are set 

forth in the table in this paragraph (b). 

TABLE 1 TO PARAGRAPH (b) 

Statute Adjusted civil 

money penalty 

12 U.S.C. 324: 

Inadvertently late or misleading reports, inter alia ....................................................................................................................... $4,404 

Other late or misleading reports, inter alia ................................................................................................................................... 44,043 

Knowingly or reckless false or misleading reports, inter alia ....................................................................................................... 2,202,123 

12 U.S.C. 334 ...................................................................................................................................................................................... 320 

12 U.S.C. 374a .................................................................................................................................................................................... 320 

12 U.S.C. 504: 

First Tier ....................................................................................................................................................................................... 11,011 

Second Tier .................................................................................................................................................................................. 55,052 

Third Tier ...................................................................................................................................................................................... 2,202,123 

12 U.S.C. 505: 

First Tier ....................................................................................................................................................................................... 11,011 

Second Tier .................................................................................................................................................................................. 55,052 

Third Tier ...................................................................................................................................................................................... 2,202,123 

12 U.S.C. 1464(v)(4) ........................................................................................................................................................................... 4,404 

12 U.S.C. 1464(v)(5) ........................................................................................................................................................................... 44,043 

12 U.S.C. 1464(v)(6) ........................................................................................................................................................................... 2,202,123 

12 U.S.C. 1467a(i)(2) .......................................................................................................................................................................... 55,052 

12 U.S.C. 1467a(i)(3) .......................................................................................................................................................................... 55,052 

12 U.S.C. 1467a(r): 

First Tier ....................................................................................................................................................................................... 4,404 

Second Tier .................................................................................................................................................................................. 44,043 

Third Tier ...................................................................................................................................................................................... 2,202,123 

12 U.S.C. 1817(j)(16): 

First Tier ....................................................................................................................................................................................... 11,011 

Second Tier .................................................................................................................................................................................. 55,052 

Third Tier ...................................................................................................................................................................................... 2,202,123 

12 U.S.C. 1818(i)(2): 

First Tier ....................................................................................................................................................................................... 11,011 

Second Tier .................................................................................................................................................................................. 55,052 

Third Tier ...................................................................................................................................................................................... 2,202,123 

12 U.S.C. 1820(k)(6)(A)(ii) ................................................................................................................................................................... 362,217 

12 U.S.C. 1832(c) ................................................................................................................................................................................ 3,198 

12 U.S.C. 1847(b) ................................................................................................................................................................................ 55,052 

12 U.S.C. 1847(d): 

First Tier ....................................................................................................................................................................................... 4,404 

Second Tier .................................................................................................................................................................................. 44,043 

Third Tier ...................................................................................................................................................................................... 2,202,123 

12 U.S.C. 1884 .................................................................................................................................................................................... 320 

12 U.S.C. 1972(2)(F): 

First Tier ....................................................................................................................................................................................... 11,011 

Second Tier .................................................................................................................................................................................. 55,052 


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2314 Federal Register / Vol. 87, No. 10 / Friday, January 14, 2022 / Rules and Regulations 

1Public Law 101–410, 104 Stat. 890. 

2Public Law 104–134, sec. 31001(s)(1), 110 Stat. 

1321, 1321–373. 

3Public Law 114–74, sec. 701, 129 Stat. 584, 599. 

4Section 1301(a) of the Federal Reports 

Elimination Act of 1998, Public Law 105–362, 112 

Stat. 3293, also amended the Inflation Adjustment 

Act by striking section 6, which contained annual 

reporting requirements, and redesignating section 7 

as section 6, but did not alter the civil penalty 

adjustment requirements; 28 U.S.C. 2461 note. 

5 81 FR 38569 (June 14, 2016). Although the 

Bureau was not obligated to solicit comments for 

the interim final rule, the Bureau invited public 

comment and received none. 

6See 12 CFR 1083.1. 

7 84 FR 517 (Jan. 31, 2019). 

8 Inflation Adjustment Act section 4, codified at 

28 U.S.C. 2461 note. As discussed in guidance 

issued by the Director of the Office of Management 

and Budget (OMB), the APA generally requires 

notice, an opportunity for comment, and a delay in 

effective date for certain rulemakings, but the 

Inflation Adjustment Act provides that these 

procedures are not required for agencies to issue 

regulations implementing the annual adjustment. 

See Memorandum for the Heads of Exec. Dep’ts & 

Agencies from Shalanda D. Young, Acting Director, 

Implementation of Penalty Inflation Adjustments 

for 2022, Pursuant to the Federal Civil Penalties 

Inflation Adjustment Act Improvements Act of 

2015, Off. of Mgmt. & Budget (Dec. 15, 2021), 

available at https://www.whitehouse.gov/wpcontent/uploads/2021/12/M-22-07.pdf. 

9 82 FR 3601 (Jan. 12, 2017); 83 FR 1525 (Jan. 12, 

2018); 84 FR 517 (Jan. 31, 2019); 85 FR 2012 (Jan. 

14, 2020); 86 FR 3767 (Jan. 15, 2021). 

10 Inflation Adjustment Act sections 4 and 5, 

codified at 28 U.S.C. 2461 note. 

TABLE 1 TO PARAGRAPH (b)—Continued 

Statute Adjusted civil 

money penalty 

Third Tier ...................................................................................................................................................................................... 2,202,123 

12 U.S.C. 3110(a) ................................................................................................................................................................................ 50,326 

12 U.S.C. 3110(c): 

First Tier ....................................................................................................................................................................................... 4,027 

Second Tier .................................................................................................................................................................................. 40,259 

Third Tier ...................................................................................................................................................................................... 2,013,008 

12 U.S.C. 3909(d) ................................................................................................................................................................................ 2,739 

15 U.S.C. 78u–2(b)(1): 

For a natural person ..................................................................................................................................................................... 10,360 

For any other person .................................................................................................................................................................... 103,591 

15 U.S.C. 78u–2(b)(2): 

For a natural person ..................................................................................................................................................................... 103,591 

For any other person .................................................................................................................................................................... 517,955 

15 U.S.C. 78u–2(b)(3): 

For a natural person ..................................................................................................................................................................... 207,183 

For any other person .................................................................................................................................................................... 1,035,909 

15 U.S.C. 1639e(k)(1) ......................................................................................................................................................................... 12,647 

15 U.S.C. 1639e(k)(2) ......................................................................................................................................................................... 25,293 

42 U.S.C. 4012a(f)(5) .......................................................................................................................................................................... 2,392 

By order of the Board of Governors of the 

Federal Reserve System, acting through the 

Secretary of the Board under delegated 

authority. 

Ann Misback, 

Secretary of the Board. 

[FR Doc. 2022–00592 Filed 1–13–22; 8:45 am] 

BILLING CODE 6210–01–P 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

12 CFR Part 1083 

Civil Penalty Inflation Adjustments 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Final rule. 

SUMMARY: The Bureau of Consumer 

Financial Protection (Bureau) is 

adjusting for inflation the maximum 

amount of each civil penalty within the 

Bureau’s jurisdiction. These 

adjustments are required by the Federal 

Civil Penalties Inflation Adjustment Act 

of 1990, as amended by the Debt 

Collection Improvement Act of 1996 

and further amended by the Federal 

Civil Penalties Inflation Adjustment Act 

Improvements Act of 2015 (Inflation 

Adjustment Act). The inflation 

adjustments mandated by the Inflation 

Adjustment Act serve to maintain the 

deterrent effect of civil penalties and to 

promote compliance with the law. 

DATES: This final rule is effective 

January 15, 2022. 

FOR FURTHER INFORMATION CONTACT: 

Willie Williams, Paralegal Specialist; 

Lanique Eubanks, Senior Counsel, 

Office of Regulations, at (202) 435–7700. 

If you require this document in an 

alternative electronic format, please 

contact CFPB_Accessibility@cfpb.gov. 

SUPPLEMENTARY INFORMATION: 

I. Background 

The Federal Civil Penalties Inflation 

Adjustment Act of 1990,1 as amended 

by the Debt Collection Improvement Act 

of 1996 2 and further amended by the 

Federal Civil Penalties Inflation 

Adjustment Act Improvements Act of 

2015 (Inflation Adjustment Act),3

directs Federal agencies to adjust for 

inflation the civil penalty amounts 

within their jurisdiction not later than 

July 1, 2016, and then not later than 

January 15 every year thereafter.4 Each 

agency was required to make the 2016 

one-time catch-up adjustments through 

an interim final rule published in the 

Federal Register. On June 14, 2016, the 

Bureau published its interim final rule 

(IFR) to make the initial catch-up 

adjustments to civil penalties within the 

Bureau’s jurisdiction.5 The June 2016 

IFR created a new part 1083 and in 

1083.1 established the inflation-adjusted 

maximum amounts for each civil 

penalty within the Bureau’s 

jurisdiction.6 The Bureau finalized the 

IFR on January 31, 2019.7

The Inflation Adjustment Act also 

requires subsequent adjustments to be 

made annually, not later than January 

15, and notwithstanding section 553 of 

the Administrative Procedure Act 

(APA).8 The Bureau annually adjusted 

its civil penalty amounts, as required by 

the Act, through rules issued in January 

2017, January 2018, January 2019, 

January 2020, and January 2021.9

Specifically, the Act directs Federal 

agencies to adjust annually each civil 

penalty provided by law within the 

jurisdiction of the agency by the ‘‘costof-living adjustment.’’ 10 The ‘‘cost-ofliving adjustment’’ is defined as the 

percentage (if any) by which the 

Consumer Price Index for all-urban 

consumers (CPI–U) for the month of 

October preceding the date of the 

adjustment, exceeds the CPI–U for 


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