United Bank Osseo - Flood Penalty

The FDIC determined that the Bank has engaged in a pattern or practice of committing violations of the FDPA and/or the notice requirements under section 1364 of the National Flood Insurance Act of 1968, 42 U.S.C. 4104a, and/or Part 339 of the FDIC’s Rules and Regulations, 12 C.F.R. Part 339, by failing to obtain or maintain adequate flood insurance in twelve instances in violation of Section 339.3(a) of the FDIC Rules and Regulations, 12 C.F.R. §339.3(a).