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#2157343 - 12/14/17 08:19 PM Flood CMPs
Andy_Z Offline
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With the OCC's publication of a $452K flood CMP against Citi today (the order was from Oct 10) this year's total is at $2.7 million in CMPs and the FDIC hasn't added this months contributions yet.

This is 61% more than in 2007 and is the highest since I've been tracking it in the last 12 years. Certainly the increase in the CMP fine itself is a major factor, but at the end of the day, lenders are still having problems.
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Flood Compliance
#2157443 - 12/15/17 05:22 PM Re: Flood CMPs Andy_Z
David Dickinson Offline
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Interesting times. I wonder if the larger banks just see it as a cost of doing business.
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#2157491 - 12/15/17 08:46 PM Re: Flood CMPs Andy_Z
Doin it Right Offline
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Where can I view a copy of the finding that resulted in the $452m CMP for Citi?

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#2157494 - 12/15/17 09:15 PM Re: Flood CMPs Andy_Z
rlcarey Offline
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#2157496 - 12/15/17 09:54 PM Re: Flood CMPs Andy_Z
Doin it Right Offline
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Thank you - This outlines the order, but doesn't detail the findings?

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#2157498 - 12/15/17 09:58 PM Re: Flood CMPs Andy_Z
rlcarey Offline
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That is all the public information that you are going to find.
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#2157557 - 12/18/17 04:46 PM Re: Flood CMPs Andy_Z
Andy_Z Offline
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The agencies are rarely forthcoming on details. Others might learn from those details and avoid the same problem, but those are not typically provided for whatever reason.
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AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#2157638 - 12/19/17 12:04 AM Re: Flood CMPs Andy_Z
TMatt87 Offline
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That's one of the things I actually appreciate about the CFPB. They give more details about their enforcement actions, even though it just seems like they are trying to pat themselves on the back.
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#2157647 - 12/19/17 11:30 AM Re: Flood CMPs Andy_Z
rlcarey Offline
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Galveston, TX
The FDIC also usually lists the infractions in their orders.
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