Effective Jan. 15, 2020, the Consumer Financial Protection Bureau increased the maximum civil monetary penalty it can impose within its jurisdiction. The increases are required by federal law, which requires agencies to adjust for inflation each civil monetary penalty within an agency’s jurisdiction by Jan. 15.
The adjusted penalties are as follows:
|
Law |
Penalty description |
Penalty amounts established under 2019 final rule |
New penalty amount |
|
Consumer Financial Protection Act, 12 U.S.C. 5565(c)(2)(A) |
Tier 1 penalty |
$5,781 |
$5,883 |
|
Consumer Financial Protection Act, 12 U.S.C. 5565(c)(2)(B) |
Tier 2 penalty |
28,906 |
29,416 |
|
Consumer Financial Protection Act, 12 U.S.C. 5565(c)(2)(C) |
Tier 3 penalty |
1,156,242 |
1,176,638 |
|
Interstate Land Sales Full Disclosure Act, 15 U.S.C. 1717a(a)(2) |
Per violation |
2,014 |
2,050 |
|
Interstate Land Sales Full Disclosure Act, 15 U.S.C. 1717a(a)(2) |
Annual cap |
2,013,399 |
2,048,915 |
|
Real Estate Settlement Procedures Act, 12 U.S.C. 2609(d)(1) |
Per failure |
94 |
96 |
|
Real Estate Settlement Procedures Act, 12 U.S.C. 2609(d)(1) |
Annual cap |
189,427 |
192,768 |
|
Real Estate Settlement Procedures Act, 12 U.S.C. 2609(d)(2)(A) |
Per failure, where intentional |
190 |
193 |
|
SAFE Act, 12 U.S.C. 5113(d)(2) |
Per violation |
29,192 |
29,707 |
|
Truth in Lending Act, 15 U.S.C. 1639e(k)(1) |
First violation |
11,563 |
11,767 |
|
Truth in Lending Act, 15 U.S.C. 1639e(k)(2) |
Subsequent violations |
23,125 |
23,533 |
