(a) For each willful violation
of any regulation under this title, the Board may assess upon any
person to which the regulation applies, and upon any partner, director,
officer, or employee thereof who willfully participates in the violation,
a civil penalty not exceeding $1,000.
(b) In the
event of the failure of any person to pay any penalty assessed under
this section, a civil action for the recovery thereof may, in the
discretion of the Board, be brought in the name of the United States.
[Formerly 12
USC 1908. Omitted.]
