inflation

The OCC Publishes Final Rule Adjusting Civil Money Penalties for Inflation

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On January 27, 2017, the Office of the Comptroller of the Currency (the “OCC“) published a final rule amending its rules of practice and procedure for national banks and in adjudicatory proceedings for federal savings associations. The final rule adjusts the maximum amount of each civil money penalty within the OCC’s jurisdiction to account for inflation. The effective date of the final rule is January 27, 2017, and the adjusted maximum amounts apply to penalties assessed after January 15, 2017 for violations occurring on or after November 2, 2015. Press Release. Final Rule.

The Federal Reserve Bank of New York Releases Survey of Consumer Expectations

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On October 14, the Federal Reserve Bank of New York released results from its September 2014 Survey of Consumer Expectations (SCE).  The SCE contains information about how consumers expect overall inflation and prices for food, gas, housing and education to behave.  It also provides insight into Americans’ views about job prospects and earnings growth and their expectations about future spending and access to credit.  Release.  Survey.