§ 4636. Civil money penalties
(a)
In general
The Director may impose a civil money penalty in accordance with this section on any regulated entity or any entity-affiliated party. The Director shall not impose a civil penalty in accordance with this section on any regulated entity or any entity-affiliated party for any violation that is addressed under section
4585
(a) of this title.
(b)
Amount of penalty
(1)
First tier
A regulated entity or entity-affiliated party shall forfeit and pay a civil penalty of not more than $10,000 for each day during which a violation continues, if such regulated entity or party—
(A)
violates any provision of this chapter, the authorizing statutes, or any order, condition, rule, or regulation under this chapter or any authorizing statute;
(2)
Second tier
Notwithstanding paragraph (1), a regulated entity or entity-affiliated party shall forfeit and pay a civil penalty of not more than $50,000 for each day during which a violation, practice, or breach continues, if—
(3)
Third tier
Notwithstanding paragraphs (1) and (2), any regulated entity or entity-affiliated party shall forfeit and pay a civil penalty in an amount not to exceed the applicable maximum amount determined under paragraph (4) for each day during which such violation, practice, or breach continues, if such regulated entity or entity-affiliated party—
(c)
Procedures
(1)
Establishment
The Director shall establish standards and procedures governing the imposition of civil money penalties under subsections (a) and (b) of this section. Such standards and procedures—
(A)
shall provide for the Director to notify the regulated entity or entity-affiliated party in writing of the Director’s determination to impose the penalty, which shall be made on the record;
(B)
shall provide for the imposition of a penalty only after the regulated entity, executive officer, or director or entity-affiliated party has been given an opportunity for a hearing on the record pursuant to section
4633 of this title; and
(2)
Factors in determining amount of penalty
In determining the amount of a penalty under this section, the Director shall give consideration to such factors as the gravity of the violation, any history of prior violations, the effect of the penalty on the safety and soundness of the regulated entity, any injury to the public, any benefits received, and deterrence of future violations, and any other factors the Director may determine by regulation to be appropriate.
(3)
Review of imposition of penalty
The order of the Director imposing a penalty under this section shall not be subject to review, except as provided in section
4634 of this title.
(d)
Action to collect penalty
If a regulated entity, executive officer, director, or entity-affiliated party fails to comply with an order of the Director imposing a civil money penalty under this section, after the order is no longer subject to review as provided under subsection (c)(1), the Director may bring an action in the United States District Court for the District of Columbia, or the United States district court within the jurisdiction of which the headquarters of the regulated entity is located, to obtain a monetary judgment against the regulated entity, executive officer, director, or entity-affiliated party and such other relief as may be available. The monetary judgment may, in the discretion of the court, include any attorneys fees and other expenses incurred by the United States in connection with the action. In an action under this subsection, the validity and appropriateness of the order of the Director imposing the penalty shall not be subject to review.
(e)
Settlement by Director
The Director may compromise, modify, or remit any civil money penalty which may be, or has been, imposed under this section.
(f)
Availability of other remedies
Any civil money penalty under this section shall be in addition to any other available civil remedy and may be imposed whether or not the Director imposes other administrative sanctions.
(g)
Prohibition of reimbursement or indemnification
A regulated entity may not reimburse or indemnify any individual for any penalty imposed under subsection (b)(3) of this section.
(h)
Deposit of penalties
The Director shall deposit any civil money penalties collected under this section into the general fund of the Treasury.
(i)
Applicability
A penalty under this section may be imposed only for conduct or violations under subsection (a) of this section occurring after October 28, 1992.