Posted By: Andy_Z
Flood CMP Big $ - 08/21/15 09:22 PM
I believe this is the largest flood CMP issued. It is certainly the largest I have seen at $1.1 million.
http://www.bankersonline.com/compliance/floodcmps.htmlPun intended, this is a drop in the bucket for BofA but I'm sure they'd rather not have to write this check anyway.
It's the largest I've seen too. Obviously, it's a CMP under the BWA of $2,000/violation and unlimited ceiling.
Posted By: happyauditor
Re: Flood CMP Big $ - 08/31/15 02:05 PM
I wish the enforcement actions would give more of a description of what they did wrong instead of being so general and vague.
Posted By: Andy_Z
Re: Flood CMP Big $ - 09/08/15 09:35 PM
The agencies either don't want to show dirty laundry in these cases or want to allow others to benefit from the mistakes of those reviewed. Neither is a good answer to me.
Posted By: John Burnett
Re: Flood CMP Big $ - 09/09/15 01:12 PM
The only reason that the agencies publish the Flood Act CMP orders is that Congress requires it.
Posted By: Ski
Re: Flood CMP Big $ - 09/09/15 06:16 PM
This recent Flood CMP has a lot of information on the types of violations and number of loans for each type.
https://www5.fdic.gov/EDOBlob/Mediator.aspx?UniqueID=70b15fc9-95ea-4d8d-b5e6-94ebd20e0c87