2011 US Code
Title 12 - Banks and Banking
Chapter 21 - FINANCIAL RECORDKEEPING (§§ 1951 - 1959)
Section 1955 - Civil penalties
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 5, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 21 - FINANCIAL RECORDKEEPING Sec. 1955 - Civil penalties |
| Contains | section 1955 |
| Date | 2011 |
| Laws in Effect as of Date | January 3, 2012 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 91-508, title I, §125, Oct. 26, 1970, 84 Stat. 1117; Pub. L. 100-690, title VI, §6185(d)(3)(B), Nov. 18, 1988, 102 Stat. 4357; Pub. L. 102-550, title XV, §1535(c)(1), Oct. 28, 1992, 106 Stat. 4067. |
| Statutes at Large References | 84 Stat. 1117 102 Stat. 4357 106 Stat. 4067 |
| Public Law References | Public Law 91-508, Public Law 100-690, Public Law 102-550 |
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(a) For each willful or grossly negligent violation of any regulation under this chapter, the Secretary may assess upon any person to which the regulation applies, or any person willfully causing a violation of the regulation, and, if such person is a partnership, corporation, or other entity, upon any partner, director, officer, or employee thereof who willfully or through gross negligence participates in the violation, a civil penalty not exceeding $10,000.
(b) In the event of the failure of any person to pay any penalty assessed under this section, a civil action for the recovery thereof may, in the discretion of the Secretary, be brought in the name of the United States.
(Pub. L. 91–508, title I, §125, Oct. 26, 1970, 84 Stat. 1117; Pub. L. 100–690, title VI, §6185(d)(3)(B), Nov. 18, 1988, 102 Stat. 4357; Pub. L. 102–550, title XV, §1535(c)(1), Oct. 28, 1992, 106 Stat. 4067.)
Amendments1992—Subsec. (a). Pub. L. 102–550 inserted “or any person willfully causing a violation of the regulation,” after “applies,”.
1988—Subsec. (a). Pub. L. 100–690 inserted “or grossly negligent” after “willful” and “or through gross negligence” after “willfully” and substituted “$10,000” for “$1,000”.
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