Limebank pays $1,000 flood civil money penalty

Limebank, Schell City, Missouri, has been issued an assessment of a $1,000 civil money penalty by the FDIC. The FDIC had determined that the bank had engaged in a pattern or practice of committing violations of the Flood Disaster Protection Act and Part 339 of the FDIC’s Rules and Regulations, 12 C.F.R. Part 339, because the bank made, increased, extended or renewed loans secured by a building or mobile home located or to be located in a special flood hazard area without providing timely notice to the borrower and/or the servicer as to whether flood insurance was available for the collateral.