VA Adjusts Civil Monetary Penalties for Inflation

Weiner Brodsky Kider PC
Contact

Weiner Brodsky Kider PC

On January 31, 2019, VA published a final rule in the Federal Register adjusting the maximum civil monetary penalties that may be assessed or imposed in calendar year 2019 for false loan guaranty certifications by private lenders that originate VA-guaranteed loans, and fraudulent claims or written statements by any person made in connection with VA programs generally. The rule was effective January 31.

Under the adjustments for inflation, the maximum civil monetary penalties for false loan guaranty certifications has increased from $22,363 to $22,927. For fraudulent claims and written statements in connection with VA programs, the maximum penalties are increased from $11,181 to $11,463. The increase for inflation in the amounts of penalties by VA is made under the provisions of the Federal Civil Penalties Adjustment Act Improvements Act of 2015.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Weiner Brodsky Kider PC | Attorney Advertising

Written by:

Weiner Brodsky Kider PC
Contact
more
less

Weiner Brodsky Kider PC on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.