12 C.F.R. § 622.55 Notice of assessment of civil money penalty.
Title 12 - Banks and Banking
(a) Notice of assessment. The notice of assessment for a civil money penalty will state: (1) The legal authority for the assessment; (2) The amount of the civil money penalty being assessed; (3) The date by which the civil money penalty must be paid; (4) The matter of fact or law constituting the grounds for assessment of the civil money penalty; (5) The right of the institution or person being assessed to a formal hearing to challenge the assessment; (6) That failure to request a hearing constitutes a waiver of the opportunity for a hearing and the notice of assessment will constitute a final and unappealable order; and (7) The time limit to request such a formal hearing. (b) Service. The notice of assessment may be served upon the institution or person being assessed by personal service or by certified mail with a return receipt to the institution's or the person's last known address. Such service constitutes issuance of the notice. [51 FR 21139, June 11, 1986, as amended at 70 FR 12585, Mar. 15, 2005]
Title 12: Banks and Banking
PART 622—RULES OF PRACTICE AND PROCEDURE
Subpart B—Rules and Procedures for Assessment and Collection of Civil Money Penalties
§ 622.55 Notice of assessment of civil money penalty.
