CFPB Civil Penalty Inflation Adjustments

On January 15, 2018, the Consumer Financial Protection Bureau (CFPB) announced the annual adjustments for inflation to the CFPB’s civil penalty amounts, as required by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996 and further amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. This final rule becomes effective upon publication in the Federal Register.

The CFPB is adjusting for inflation the maximum amount of each civil penalty within the CFPB’s jurisdiction. The inflation adjustments mandated by the Inflation Adjustment Act serve to maintain the deterrent effect of civil penalties and to promote compliance with the law. You can access the final rule here.