Skip to content

Flood Enforcing Flood Hazard

The regulators have issued warnings about the consequences of flood hazard insurance compliance failures - and they are as good as their word. The Board of Governors of he Federal Reserve System has imposed civil money penalties on the Community Bank of Granbury, in Granbury, Texas. Examiners identified a pattern or practice of violations of the Flood Hazard Insurance requirements contained in the FRB's Regulation H. The bank is ordered to pay a civil money penalty of $10,000 which must be remitted to FEMA.

Copyright © 2002 Compliance Action. Originally appeared in Compliance Action, Vol. 7, No. 6, 5/02

First published on 05/01/2002

Search Topics