Federal Reserve Board Fines Bank $90,000 in Connection with Violations of the National Flood Insurance Act

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The Federal Reserve Board recently entered into a consent order with a bank, fining it $90,000 for undisclosed violations of the National Flood Insurance Act.  The penalty is required to be remitted to the National Flood Insurance Program.

The consent order is available here: https://www.federalreserve.gov/newsevents/pressreleases/files/enf20180112b1.pdf.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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