Farm Credit Fines Get Their Annual Inflation Boost Too
Published Date: 1/14/2025
Rule
Summary
Starting January 15, 2025, the Farm Credit System Insurance Corporation is raising its civil money penalties to keep up with inflation. This means anyone who breaks the rules after November 2, 2015, could face bigger fines. These changes help make sure penalties stay fair and strong enough to stop bad behavior.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Penalty Raised to $264 Per Day
If you are an insured Farm Credit System institution, the Farm Credit System Insurance Corporation may now impose a civil money penalty of up to $264 per day for each day a violation under section 5.65(c) or (d) continues. The rule is effective January 14, 2025, and the adjusted amounts apply to penalties assessed on or after January 15, 2025 for conduct occurring on or after November 2, 2015.
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