Authority: IC 24-4.4-3-103; IC 24-4.5-6-104; IC 24-7-7-1; IC 24-12-10-1; IC 28-1-29- 2; IC 28-8-4.1-401; IC 28-11-1-12

Affected: IC 24-4.4; IC 24-4.5; IC 24-7; IC 24-12; IC 28-1; IC 28-7; IC 28-8

Sec. 9. The amount of a civil penalty described under section 7 of this rule may be adjusted upward to reflect aggravating factors. The existence or nonexistence of any factor is not determinative. Factors that may be considered are as follows:

1. (1) The gravity of the practice, violation, or act, including:

   1. (A) loss or risk of loss to a person;
   2. (B) loss or risk of loss to consumers;
   3. (C) an impact other than loss;
   4. (D) concealment; and
   5. (E) the number of violations at issue.
2. (2) The economic benefit derived by a person or an individual from the practice, violation, or act.
3. (3) Willful or intentional misconduct.
4. (4) Duration and frequency of the violation.
5. (5) History of similar prior violations.
6. (6) Fraudulent conduct.
7. (7) Whether the violation negatively impacts the integrity or public trust of financial institutions in the state of Indiana.
8. (8) Other factors justice requires.

(Department of Financial Institutions; 750 IAC 10-2-9; filed Mar 26, 2024, 11:00 a.m.: 20240424-IR- 750230837FRA)