On February 26, 2016, the OCC published revisions to its policy for assessing civil money penalties as set forth in its Policies and Procedures Manual. The revised PPM, titled "Civil Money Penalties," replaces the PPM of the same title issued in June 1993. The revised PPM sets forth the OCC's policies and procedures when assessing civil money penalties against entities such as institution-affiliated parties, national banks, federal savings associations, federal branches and agencies, and bank service companies and service providers.
The full text of the OCC PPM is available at: http://www.occ.gov/news-issuances/bulletins/2016/bulletin-2016-5a.pdf.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
