CNB Bank pays $13,000 for flood insurance rules violations

In the Order for the Payment of a Civil Money Penalty, CNB Bank, without admitting or denying the cited violations of law and regulation, consented to the Order to Pay, after the FDIC's determination that the bank had "engaged in a pattern or practice of committing thirteen (13) violations of section 102(b)(1) of the FDPA, 42 U.S.C. § 4012a(b)(1), and section 339.3(a) of the FDIC Rules and Regulations, 12 C.F.R. § 339.3(a), by failing to obtain flood insurance contents coverage at or before loan origination, increase, extension, or renewal on loans secured by a building or mobile home that is located or to be located in a special flood hazard area, as designated by the Administrator of the Federal Emergency Management Agency, in which flood insurance is available under the National Flood Insurance Act of 1968, as amended, 42 U.S.C. §§ 4001-4129."