Customers Bank pays $41,500 flood insurance penalty

CUSTOMERS BANK, Malvern, Pennsylvania, was issued a Consent Order of Assessment of a $41,500 Civil Money Penalty by the Board of Governors of the Federal Reserve System, in connection with the Bank’s pattern or practice of violations of Regulation H, 12 C.F.R. § 208.25, which implements the requirements of the National Flood Insurance Act.