Bank penalties for bad behavior just got more expensive, across the board

The Office of the Comptroller of the Currency has increased the maximum fines it can levy on banks for various violations. This means banks will face higher financial penalties for misconduct, making compliance failures more costly.

Every year, the government adjusts civil penalties for inflation. This year, the increase means that the maximum fines for banks, from minor reporting errors to major fraud, are now higher. This makes it more expensive for banks to break the rules, even if the rules themselves have not changed.