CIVIL MONEY PENALTIES.

SEC. 1155. CIVIL MONEY PENALTIES. Section 1376 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4636) is amended—(1) by striking subsection (a) and inserting the following:“(a) In General.—The Director may impose a civil money penalty in accordance with this section on any regulated entity or any entity-affiliated party. The Director shall not impose a civil penalty in accordance with this section on any regulated entity or any entity-affiliated party for any violation that is addressed under section 1345(a).”;(2) by striking subsection (b) and inserting the following:“(b) Amount of Penalty.—“(1) First tier.—A regulated entity or entity-affiliated party shall forfeit and pay a civil penalty of not more than $10,000 for each day during which a violation continues, if such regulated entity or party—“(A) violates any provision of this title, the authorizing statutes, or any order, condition, rule, or regulation under this title or any authorizing statute;122 STAT. 2776“(B) violates any final or temporary order or notice issued pursuant to this title;“(C) violates any condition imposed in writing by the Director in connection with the grant of any application or other request by such regulated entity; or“(D) violates any written agreement between the regulated entity and the Director.“(2) Second tier.—Notwithstanding paragraph (1), a regulated entity or entity-affiliated party shall forfeit and pay a civil penalty of not more than $50,000 for each day during which a violation, practice, or breach continues, if—“(A) the regulated entity or entity-affiliated party, respectively—“(i) commits any violation described in any subparagraph of paragraph (1);“(ii) recklessly engages in an unsafe or unsound practice in conducting the affairs of the regulated entity; or“(iii) breaches any fiduciary duty; and“(B) the violation, practice, or breach—“(i) is part of a pattern of misconduct;“(ii) causes or is likely to cause more than a minimal loss to the regulated entity; or“(iii) results in pecuniary gain or other benefit to such party.“(3) Third tier.—Notwithstanding paragraphs (1) and (2), any regulated entity or entity-affiliated party shall forfeit and pay a civil penalty in an amount not to exceed the applicable maximum amount determined under paragraph (4) for each day during which such violation, practice, or breach continues, if such regulated entity or entity-affiliated party—“(A) knowingly—“(i) commits any violation described in any subparagraph of paragraph (1);“(ii) engages in any unsafe or unsound practice in conducting the affairs of the regulated entity; or“(iii) breaches any fiduciary duty; and“(B) knowingly or recklessly causes a substantial loss to the regulated entity or a substantial pecuniary gain or other benefit to such party by reason of such violation, practice, or breach.“(4) Maximum amounts of penalties for any violation described in paragraph (3).—The maximum daily amount of any civil penalty which may be assessed pursuant to paragraph (3) for any violation, practice, or breach described in paragraph (3) is—“(A) in the case of any entity-affiliated party, an amount not to exceed $2,000,000; and“(B) in the case of any regulated entity, $2,000,000.”;(3) in subsection (c)—(A) by striking “enterprise” each place that term appears and inserting “regulated entity”;(B) by inserting “or entity-affiliated party” before “in writing”; and(C) by inserting “or entity-affiliated party” before “has been given”;(4) in subsection (d)—122 STAT. 2777(A) by striking “or director” each place such term appears and inserting “director, or entity-affiliated party”;(B) by striking “an enterprise” and inserting “a regulated entity”;(C) by striking “the enterprise” and inserting “the regulated entity”;(D) by striking “request the Attorney General of the United States to”;(E) by inserting “, or the United States district court within the jurisdiction of which the headquarters of the regulated entity is located,” after “District of Columbia”;(F) by striking “, or may, under the direction and control of the Attorney General of the United States, bring such an action”; and(G) by striking “and section 1374”; and(5) in subsection (g), by striking “An enterprise” and inserting “A regulated entity”.