Caught in a Flood

Two more banks have been subjected to civil money penalties for violations of Flood Hazard Insurance requirements. Irwin Union Bank of Columbus, Indiana will pay a penalty of $22,300. The Bank in Warrior, Alabama will pay a fine of $46,050. Both orders note that the penalty may be calculated using an amount up to $385 for each violation.

Copyright © 2005 Compliance Action. Originally appeared in Compliance Action, Vol. 10, No. 5, 4/05