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Code · U.S. Code · Title 12 - BANKS AND BANKING · CHAPTER 21— FINANCIAL RECORDKEEPING · § 1955

§ 1955. Civil penalties

283 words·~1 min read·/usc/title-12/section-1955

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)For each willful or grossly negligent violation of any regulation under this chapter, the Secretary may assess upon any person to which the regulation applies, or any person willfully causing a violation of the regulation, and, if such person is a partnership, corporation, or other entity, upon any partner, director, officer, or employee thereof who willfully or through gross negligence participates in the violation, a civil penalty not exceeding $10,000.
(b)In the event of the failure of any person to pay any penalty assessed under this section, a civil action for the recovery thereof may, in the discretion of the Secretary, be brought in the name of the United States.
(Pub. L. 91–508, title I, § 125, Oct. 26, 1970, 84 Stat. 1117; Pub. L. 100–690, title VI, § 6185(d)(3)(B), Nov. 18, 1988, 102 Stat. 4357; Pub. L. 102–550, title XV, § 1535(c)(1), Oct. 28, 1992, 106 Stat. 4067.)
Connections17 cite this · traces to 1
9 references not yet in our index
  • Pub. L. 91–508, title I, § 125
  • 84 Stat. 1117
  • Pub. L. 100–690, title VI, § 6185(d)(3)(B)
  • 102 Stat. 4357
  • Pub. L. 102–550, title XV, § 1535(c)(1)
  • 106 Stat. 4067
  • Pub. L. 102–550
  • Pub. L. 100–690
  • Pub. L. 91–508
Citation graph
cites case law
§ 1955
Civil penalties
Fed. Reg.×12
IRM×2
Stat.×2
C.F.R.×1
Pub. L.Pub. L. 91–508, title I, § 125
Stat.84 Stat. 1117
Pub. L.Pub. L. 100–690, title VI, § 6185(d)(3)(B)
Stat.102 Stat. 4357
Pub. L.Pub. L. 102–550, title XV, § 1535(c)(1)
Cites 10 · showing 6Cited by 17 across 4 sources
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