The US Coast Guard issued a final rule adjusting fines and other civil monetary penalties to reflect the impact of inflation. Between 2003 (the last time monetary penalties were adjusted for inflation) and 2008, the consumer price index increased by 19.12%. Therefore, the fines and other civil monetary penalties assessed by the Coast Guard are being increased by an average of 19.12%, effective 30 days after December 23. 74 Fed. Reg. 68150 (December 23, 2009).
(Source: Bryant’s Maritime News)
