12 U.S.C. § 164 — Penalty for failure to make reports

(a) First tier An association is subject to a penalty of up to $2,000 for each day the problem continues, if: (1) it maintains procedures reasonably designed to avoid mistakes, and unintentionally, because of such a mistake, either (A) fails to make, get, send, or publish a report or information the Comptroller of the Currency requires under section 161 of this title, within the deadline the Comptroller sets, or (B) sends or publishes false or misleading report information; or (2) it unintentionally sends or publishes a report that is only minimally late. The penalty runs for each day the failure continues, or the false or misleading information stays uncorrected. The association has the burden of proving that any error was truly inadvertent, and that any late report was inadvertently late. (b) Second tier An association is subject to a penalty of up to $20,000 for each day the problem continues, if it (1) fails to make, get, send, or publish a required report or information within the Comptroller's deadline, or (2) sends or publishes false or misleading report information — in a way not covered by the more excusable "first tier" in subsection (a). (c) Third tier Despite subsections (a) and (b), if an association knowingly, or with reckless disregard for accuracy, sends or publishes false or misleading report information as described in subsection (b), the Comptroller may fine it up to $1,000,000 or 1 percent of the association's total assets — whichever is less — for each day the failure continues, or the false or misleading information stays uncorrected. (d) Assessment; etc. Penalties under subsection (a), (b), or (c) are assessed and collected the way section 1818(i)(2), subparagraphs (E), (F), (G), and (I), provide for penalties under that section — including how the penalty amount is determined. (e) Hearing An association facing a penalty under this section gets an agency hearing, if it requests one within 20 days after receiving the notice of assessment. The hearing rules in section 1818(h) of this title apply to that proceeding.