Federal Law or Rule |
Penalty Amount for Non-Compliance |
| The Truth in Lending Act (Regulation M) |
Criminal liability for willful and knowing violation is a maximum fine of $5,000 and/or maximum imprisonment of one year |
| The Truth in Lending Act (Regulation Z) |
Criminal liability for willful and knowing violation is a maximum fine of $5,000 and/or maximum imprisonment of one year |
| The Consumer Leasing Act |
Up to $5,000 or up to one year of incarceration for criminal penalties; Up to $1,000,000 in civil class action suits |
| The Equal Credit Opportunity Act |
Liability for punitive damages can apply only to nongovernmental entities and is limited to $10,000 in individual actions and the lesser of $500,000 or 1 percent of the creditor's net worth in class actions … provides for equitable and declaratory relief and … authorizes the awarding of costs and reasonable attorney's fees.” |
| The Fair Credit Reporting Act |
The civil penalties for noncompliance include paying up to $1,000 in damages to the consumer. If the FTC takes civil action, the fine is a maximum of $2,500 per violation. |
| Used Car Rule |
Up to $40,000 for each violation of failing to display a Buyer's Guide |
| Deceptive Advertising |
Civil penalties established by the courts plus $40,000 per day per violation. Civil penalties can range from thousands of dollars to millions of dollars, depending on the nature of the violation |
| The Magnuson-Moss Warranty Act |
Judgment a sum equal to the aggregate amount of cost and expenses (including attorneys’ fees based on actual time expended |
| Gramm-Leach-Bliley Act |
Civil penalties of up to $10,000 per violation for officers and directors personally liable, and for the financial institution liable, penalties of up to $100,000 per violation. Criminal penalties include imprisonment for up to five years and fines. |
| Disposal Rule |
Up to $2,500 in penalties for each independent violation |
| Adverse Action Notices |
Liability for punitive damages … is limited to $10,000 in individual actions and the lesser of $500,000 or 1 percent of the creditor's net worth in class actions. |
| Credit Practices Rule |
Civil penalties of up to $10,000 for each violation and can issue an order prohibiting further violations |
| Red Flags Rule |
$3,500 as the maximum civil penalty per violation |
| Telemarketing Sales Rule |
Civil penalties of $40,000 per violation |
| Do Not Call Rule |
Up to $40,000 per violation. |
| Fuel Economy Advertising for New Automobiles |
Civil penalties can range from thousands of dollars to millions of dollars, depending on the nature of the violation |
| Form 8300 and Reporting Cash Payments of Over $10,000 |
If you willfully fail to file Form 8300, you can be fined up to $250,000 ($500,000 for corporations) or sentenced to up to 5 years in prison, or both |
| Office of Foreign Assets Control (OFAC) |
30 years in jail, fines up to $10 million against corporations, $5 million against individuals and civil penalties of up to $1 million per incident |
| Federal Odometer Act |
Up to $1,500 per violation |
