According to TMZ, the punishment was handed down by U.S. Olympics Committee (USOC), International Olympics Committee (IOC), and U.S. Swimming, although it sounds like some members of the USOC felt the punishment was a little too severe (it's harsher than the six month suspension Michael Phelps received for his two DUIs).
TMZ Sports caught up with Lochte at the airport and tried repeatedly to get him to talk about the punishment, whether or not he thought it was fair, and whether or not he thought he was a "sacrificial lamb." All he'd say was "no comment."
After getting "no comment" about a thousand times, the intrepid reporter switched tactics and asked about Lochte's gig on Dancing With the Stars, and Lochte admitted he was nervous, because he "can't dance."
Well, he's got some free time on his hands now, so maybe he'll get a chance to learn.