12 CFR 622.55
§ 622.55 Notice of assessment of civil money penalty.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 622.55, § 622.55 Notice of assessment of civil money penalty, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/48095
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Full text
(a) Notice of assessment. The notice of assessment for a civil money penalty will state:
(1) The legal authority for the assessment;
(2) The amount of the civil money penalty being assessed;
(3) The date by which the civil money penalty must be paid;
(4) The matter of fact or law constituting the grounds for assessment of the civil money penalty;
(5) The right of the institution or person being assessed to a formal hearing to challenge the assessment;
(6) That failure to request a hearing constitutes a waiver of the opportunity for a hearing and the notice of assessment will constitute a final and unappealable order; and
(7) The time limit to request such a formal hearing.
(b) Service. The notice of assessment may be served upon the institution or person being assessed by personal service or by certified mail with a return receipt to the institution's or the person's last known address. Such service constitutes issuance of the notice.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.