OCC Revises Civil Money Penalty Manual

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced revisions to its civil money penalty (CMP) manual which the agency will begin using on January 1, 2023.

The OCC revised the CMP matrix applicable to its regulated institutions to allow for sufficient differentiation among varying levels of misconduct or by institution size, and updated the mitigating factors to provide a stronger incentive for banks to fully address underlying deficiencies.  

“The revised CMP matrix for OCC institutions will strengthen the effectiveness and fairness of our enforcement actions,” Acting Comptroller Michael J. Hsu said. “It will help ensure that the civil money penalty is tailored to the facts and circumstances of each violation, and the updated mitigating factors will help ensure that the underlying problems are resolved in a timely manner.”  

The CMP matrix is a tool to guide the OCC’s decision making in assessing CMPs. The CMP matrix does not reduce supervisory decision making to a mathematical process and is only intended to be a guide and a starting point for discussion.

The CMP matrix is not a substitute for sound supervisory judgment, and the OCC may depart from the matrix suggestions when appropriate and when based on the specific facts and circumstances of each matter.

The CMP matrix promotes consistency and helps the OCC ensure that all statutory and interagency factors are considered when assessing a CMP.

Related Links

• Bulletin 2022-24, “Revised Policies and Procedures Manual for CMPs”
• PPM 5000-7, “Civil Money Penalties,” dated January 1, 2023 (PDF)