12 CFR § 622.55 - Notice of assessment of civil money penalty.

---
identifier: "/us/cfr/t12/s622.55"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 622.55 - Notice of assessment of civil money penalty."
title_number: 12
title_name: "Banks and Banking"
section_number: "622.55"
section_name: "Notice of assessment of civil money penalty."
chapter_name: "FARM CREDIT ADMINISTRATION"
subchapter_number: "B"
subchapter_name: "FARM CREDIT SYSTEM"
part_number: "622"
part_name: "RULES OF PRACTICE AND PROCEDURE"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "Secs. 5.9, 5.10, 5.17, 5.25-5.37 of the Farm Credit Act (12 U.S.C. 2243, 2244, 2252, 2261-2273); 28 U.S.C. 2461 note; and 42 U.S.C. 4012a(f)."
regulatory_source: "51 FR 21139, June 11, 1986, unless otherwise noted."
cfr_part: "622"
---


# 622.55 Notice of assessment of civil money penalty.

(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]