; and (2) examine the policies of such institution and credit union with respect to the requirements of this Act. 7. Penalties (a) In general If the Attorney General determines that an individual, insured depository institution, or insured credit union has violated a provision of this Act, the Attorney General shall impose a civil penalty in an amount determined by the Attorney General. (b) Considerations In determining the amount of a penalty under subsection (a), the Attorney General shall consider— (1) the severity of such violation, as determined by the Attorney General; (2) the number of penalties previously imposed on such individual, institution, or credit union under subsection (a); and (3) whether such individual, institution, or credit union has been penalized for such violation under section 216 of title 18, United States Code. 8. Definitions In this Act: (1) Covered agency The term covered agency means the following: (A) The Board of Governors of the Federal Reserve System. (B) The Bureau of Consumer Financial Protection. (C) The Federal Deposit Insurance Corporation. (D) The National Credit Union Administration. (E) The Office of the Comptroller of the Currency. (2) Financial executive officer The term financial executive officer means, with respect to an insured depository institution or insured credit union— (A) the president of such institution or credit union; (B) a vice president of such institution or credit union who is the head of a principal business unit, division, or function (such as sales, administration, or finance); (C) an employee of such institution or credit union who performs a policymaking function