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Farm Credit Administration: Compliance with the Inflation Adjustment Act

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Report Type Reports and Testimonies
Report Date Sept. 24, 2002
Report No. GAO-02-1084R
Subject
Summary:

GAO initiated a governmentwide review of the implementation of the Federal Civil Penalties Inflation Adjustment Act of 1990. The act requires each federal agency to issue a regulation adjusting its covered maximum civil monetary penalties for inflation by October 23, 1996, and requires each agency to make necessary adjustments at least once every 4 years thereafter. During the review, GAO determined that the Farm Credit Administration had adjusted its civil penalties in a manner inconsistent with the requirements of the statute.

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