FHFA Adopts, Issues Rules on Fraud and Penalty Changes
July 8, 2016
The Federal Housing Finance Agency issued interim final rules last week on fraud and civil penalties that are open for comment through Aug. 1.The interim final rule amends rules of practice and procedure and other agency regulations to adjust each civil money penalty within its jurisdiction to account for inflation. This was done pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements of 2015. FHFA noted that the Adjustment Improvements Act provides that the initial catch-up adjustment must be implemented by an interim final rule.