Flood CMPs

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.

Interesting times. I wonder if the larger banks just see it as a cost of doing business.

Where can I view a copy of the finding that resulted in the $452m CMP for Citi?

https://www.bankersonline.com/penalty/156851

Thank you - This outlines the order, but doesn't detail the findings?

That is all the public information that you are going to find.

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.

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.

The FDIC also usually lists the infractions in their orders.