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2000 - Rules and Regulations



Subpart E—Rules and Procedures Applicable to Proceedings Relating to Assessment of Civil Penalties for Willful Violations of the Change in Bank Control Act

§ 308.115  Scope.

The rules and procedures of this subpart, subpart B of the Local Rules and the Uniform Rules shall apply to proceedings to assess civil penalties against any person for willful violation of the Change in Bank Control Act of 1978 (12 U.S.C. 1817(j)), or any regulation or order issued pursuant thereto, in connection with the affairs of an insured nonmember bank.

[Codified to 12 C.F.R. § 308.115]

§ 308.116  Assessment of penalties.

(a)  In general.  The civil money penalty shall be assessed upon the service of a Notice of Assessment which shall become final and unappealable unless the respondent requests a hearing pursuant to § 308.19(c)(2).

(b)  Maximum penalty amounts. Under 12 U.S.C. 1817(j)(16), a civil money penalty may be assessed for violations of change in control of insured depository institution provisions in the maximum amounts calculated and published in accordance with § 308.132(d).

(c)  Mitigating factors.  In assessing the amount of the penalty, the Board of Directors or its designee shall consider the gravity of the violation, the history of previous violations, respondent's financial resources, good faith, and any other matters as justice may require.

(d)  Failure to answer.  Failure of a respondent to file an answer required by this section within the time provided constitutes a waiver of his or her right to appear and contest the allegations in the notice of disapproval. If no timely answer is filed, Enforcement Counsel may file a motion for entry of an order of default. Upon a finding that no good cause has been shown for the failure to file a timely answer, the administrative law judge shall file a recommended decision containing the findings and relief sought in the notice. A final order issued by the Board of Directors based upon a respondent's failure to answer is deemed to be an order issued upon consent.

[Codified to 12 C.F.R. § 308.116]

[Section 308.116 amended at 61 Fed. Reg. 57990, November 12, 1996; 65 Fed. Reg. 64887, October 31, 2000; 69 Fed. Reg. 61305, October 18, 2004; 73 Fed. Reg. 73157, December 2, 2008; 77 Fed. Reg. 74577, December 17, 2012; 81 Fed. Reg. 42239, June 29, 2016; 83 Fed. Reg. 61114, November 28, 2018, effective January 15, 2019; 81 Fed. Reg. 95416, December 28, 2016; 83 Fed. Reg. 61114, November 28, 2018, effective January 15, 2019]

§ 308.117  Effective date of, and payment under, an order to pay.

If the respondent both requests a hearing and serves an answer, civil penalties assessed pursuant to this subpart are due and payable 60 days after an order to pay, issued after the hearing or upon default, is served upon the respondent, unless the order provides for a different period of payment. Civil penalties assessed pursuant to an order to pay issued upon consent are due and payable within the time specified therein.

[Codified to 12 C.F.R. § 308.117]

§ 308.118  Collection of penalties.

The FDIC may collect any civil penalty assessed pursuant to this subpart by agreement with the respondent, or the FDIC may bring an action against the respondent to recover the penalty amount in the appropriate United States district court. All penalties collected under this section shall be paid over to the Treasury of the United States.

[Codified to 12 C.F.R. § 308.118]


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