( 2:34 PM ) Andy
The Chicago FDIC sponsored a teleconference on flood insurance issues on August 12, 2004. In that conference they noted that in the 18 months ending last June, 30% of the banks examined had flood violations. The Chicago area saw the same pattern. 8% in the region had violations causing civil money penalties. These can cost $350 per violation and cap at $100M annually.
The FDIC recently released a list of new penalties and actions and there were two new flood cases listed. You'll find these on the Flood CMP page here on BOL.
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