Penalties
The Act imposes or increases both fines and jail time penalties, and mandates coordination with the CPSC when effecting a manufacturer's product recall. The law
- increases civil penalties for failure to report possible product hazards to the CPSC in a timely manner from $5,000 per violation (with a cap of $1,825,000) to $100,000 per violation (with a cap of $15 million)
- increases criminal penalties for various prohibited acts to include forfeiture of assets and imprisonment for up to five years, and eliminates the requirement that the CPSC first notify a company of noncompliance before seeking criminal penalties
- requires CPSC approval of the remedy offered in a product recall, rather than giving the recalling party its choice of repair, replace, or refund
Read more about this topic: Consumer Product Safety Improvement Act
Famous quotes containing the word penalties:
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—Mary Pickford (1893–1979)
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—Robert M. Fresco, and Jack Arnold. Dr. Matt Hastings (John Agar)