CIVIL MONEY PENALTIES.

SEC. 1561. CIVIL MONEY PENALTIES. (a) In General.—Section 5321(a)(6) of title 31, United States Code, is amended to read as follows: “(6) Negligence.— “(A) In general.—The Secretary of the Treasury may impose a civil money penalty of not more than $500 on any financial institution which negligently violates any provision of this subchapter or any regulation prescribed under this subchapter. “(B) Pattern of negligent activity.—If any financial institution engages in a pattern of negligent violations of any provision of this subchapter or any regulation prescribed under this subchapter, the Secretary of the Treasury may, in addition to any penalty imposed under subparagraph (A) with respect to any such violation, impose a civil money penalty of not more than $50,000 on the financial institution.”. 106 STAT. 4072 (b) Effective Date.—The amendment made by subsection (a) shall apply with respect to violations committed after the date of the enactment of this Act.