12 U.S.C. § 1884
Penalties for violations
A bank or savings association which violates a rule promulgated pursuant to this chapter shall be subject to a civil penalty which shall not exceed $100 for each day of the violation.
Notes of Decisions
Cited in 4
cases, 1979–2019 · leading case: United States v. Robert Lee Stevens, 601 F.2d 1075 (9th Cir. 1979).
United States v. Robert Lee Stevens, 601 F.2d 1075 (9th Cir. 1979). “” 12 U.S.C. § 1884 imposes a civil penalty of $100 a day for violations of the rules.”
Krupnick v. Union Nat'l Bank, 470 F. Supp. 1037 (W.D. Pa. 1979). “Although the act provides that a bank which violates a bank protection regulation shall be subject to a civil penalty not exceeding $100 for each day of the violation, 12 U.S.C. § 1884 , there is no indication of a legislative intent to create a private federal civil remedy.”
Arleamon Sadler, Jr. v. Citibank, N.A., 947 F.2d 642 (2d Cir. 1991). “12 U.S.C. § 1884 (1988). Nor would it be consistent with the purposes of the Act to imply a private remedy.”
Ferguson v. Jefferson Cnty. (10th Cir. 2019). “12 U.S.C. § 1884 claim – The statute provides that “[a] bank or savings and loan association which violates a rule promulgated pursuant to this chapter shall be subject to a civil penalty which shall not exceed $100 for each day of the violation.”
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