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#1955774 - 08/21/14 05:14 PM Civil Money Penalties
Starter Offline
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Starter
Joined: Aug 2004
Posts: 513
NJ
When regulators assess fines against banks where does the money go?

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General Discussion
#1955864 - 08/21/14 08:03 PM Re: Civil Money Penalties Starter
Starter Offline
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Starter
Joined: Aug 2004
Posts: 513
NJ
I know under 12USC1818(i) states the following, " (J) Disbursement.— All penalties collected under authority of this paragraph shall be deposited into the Treasury. " - however, what do they do with it?

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#1955892 - 08/21/14 08:55 PM Re: Civil Money Penalties Starter
RockChucker, CAMS Offline
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Joined: Jul 2013
Posts: 1,700
The Country
Not sure, maybe pay the fat checks out to those CFPB clowns.
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#1955909 - 08/21/14 09:17 PM Re: Civil Money Penalties Starter
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,858
Pulling people out of the ditc...
"conferences" in Vegas?
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#1955921 - 08/21/14 09:39 PM Re: Civil Money Penalties Starter
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Do more exams!
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www.kaybeescomplianceinsights.com

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#1955948 - 08/21/14 11:40 PM Re: Civil Money Penalties Starter
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
Depends on why they are assessed for what specific violation.
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