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Costly flood insurance violations

Question: 
Can a flood civil money penalty cost six figures or more?
Answer: 

Yes, the OCC issued a $452,000 civil money penalty (CMP)against Citibank, N.A. on October 10, 2017, and the Federal Reserve issued a CMP against Sun Trust for $1.5 million on May 24, 2017.

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Learn more about Susan Costonis’s webinar Flood Insurance Fundamentals – Passing the next Compliance Exam

First published on 09/15/2019

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