Are familiars subject to the drop penalty?

It seems like they would be, but I can at least find jr boogies with relative ease on higher level characters.

You answered your own question. If you can get a level 7 Jr. Boogie familiar card on a level 200 char, they are not subject to drop penalty.
(And a good thing too, or collecting them would be impossible).

You answered your own question. If you can get a level 7 Jr. Boogie familiar card on a level 200 char, they are not subject to drop penalty.
(And a good thing too, or collecting them would be impossible).

I suppose. I just wanted to be sure that there isn't some kind of reduced drop rate without removing it entirely, like you would get if you were 8 or 9 levels above the monster.

The familiar drop rate is just dramatically inversely related to monster level. Once you get to like level 80+ it's quite rare to see a familiar drop.