The Federal Trade Commission has announced today that inflation adjustments in civil penalties, required by the Debt Collection Improvement Act (DCIA) of 1996, will raise penalties for statutes enforced by the FTC by 10 percent. The increases will become effective Nov. 20, 1996, and will apply to violations occurring after that date.
In a Federal Register notice, published today, the Commission notes that the DCIA requires adjustments to be calculated using a specified formula, which limits the initial adjustment under each statutory provision to 10 percent of the current statutory civil penalty amount. Due to inflation since the civil penalties were last set or adjusted, the increase will, in every case, be the maximum 10 percent, the notice says.
The adjusted civil penalties are as follows:
The Federal Register Notice states that since the Commission has no discretion in determining the amounts of the published adjustments, it is unnecessary to seek public comment.
The Commission vote to announce the increases in the Federal Register was 5-0.
Copies of the Federal Register Notice are available from the FTC’s Public Reference Branch, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-326-2222; TTY for the hearing impaired 1-866-653-4261. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710. FTC news releases and other materials also are available on the Internet at the FTC’s World Wide Web site at: http://www.ftc.gov
Claudia Bourne Farrell
Office of Public Affairs
Office of General Counsel
(FTC File No. P859 907)