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Bank of Kampsville pays $22K for flood violations

Kampsville, IL
10/25/2016
Fine Amount: 
$21,819
Issued by: 

The FDIC issued a Consent Order for a Civil Money Penalty of $21,819 to Bank of Kampsville, Kampsville, Illinois, for violating Flood Disaster Protection Act (“FDPA”) and the FDIC Rules and Regulations. The FDIC has reason to believe that the bank has violated the FDPA and Part 339 of the FDIC Rules and Regulations. Specifically, on loans secured by property located in flood hazard areas in which flood insurance has been made available the bank violated:

  • § 339.3(a), by failing to obtain flood insurance at origination in one instance;
  • § 339.3(a), by failing to maintain adequate flood insurance during the term of the loan in one (1) instance;
  • § 339.3(a), by failing to obtain and/or maintain flood insurance at the time of origination, renewal, increase or extension in seven instances;
  • § 339.7, by failing to secure adequate flood insurance within 45 days of lapse in two instances;
  • § 339.7 and § 339.3(a), by failing to provide 45-day Force Place Notice in twelve instances; and
  • § 339.9(a), by failing to provide notice to borrowers at the time of origination, renewal, increase or extension that collateral was located in special flood hazard area in eighteen instances.

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