§1833a Civil Penalties

Summary

A court can make anyone who breaks certain federal laws pay a money penalty. Normally the fine can be up to $1,000,000. For a continuing wrongdoing, the fine can be more, but not more than $1,000,000 per day or $5,000,000 total, whichever is less. If the wrongdoer made money from the violation or someone else lost money because of it, the fine can be up to the amount of that gain or loss. The word “person” for that rule includes the Bank Insurance Fund, the Savings Association Insurance Fund, and, after they merged, the Deposit Insurance Fund, and the National Credit Union Share Insurance Fund. This penalty rule covers violations or conspiracies to violate certain numbered sections of federal law (Title 18: 215, 656, 657, 1005, 1006, 1007, 1014, 1344; and 287, 1001, 1032, 1341, 1343 when they affect a federally insured financial institution; and Title 15: 645(a)). It applies to violations on or after August 10, 1984. The Attorney General must start the lawsuit and must prove the case by showing it is more likely than not. For investigations, the Attorney General can take oaths, gather evidence, and issue subpoenas for witnesses and records anywhere in the United States. Those subpoenas follow the same rules as civil investigative demands in section 1968 of Title 18, and failing to obey a court order to enforce them can lead to contempt. If a subpoena’s return date is less than 5 days after service, a person won’t be held in contempt for missing that date if they file the required petition within 5 days of service. A lawsuit must begin within 10 years after the cause of action starts.