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The Savings Bank

Circleville, OH
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The FDIC has issued a Stipulated Order for a $7,200 civil money penalty to The Savings Bank, Circleville, Ohio, for a pattern or practice of violations of the Flood Disaster Protection Act, the National Flood Insurance Act, and Part 339 of the FDIC's Rules and Regulations. The Order cited:

  • 3 failures to obtain flood insurance on a building security a designated loan at the time of origination
  • 1 failure to obtain adequate flood insurance at the time of loan origination
  • 1 failure to maintain flood insurance
  • 1 failure to provide borrowers a Notice of Special Flood Hazard and Availability of Federal Disaster Relief Assistance when making, increasing, extending or renewing a loan.

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