Hantz Bank pays Flood Act penalty
The FDIC imposed a $14,000 civil money penalty on Hantz Bank, for violations of:
- Section 339.3(a) of the FDIC Rules and Regulations, 12 C.F.R. § 339.3(a), by failing to obtain flood insurance at origination in four instances, and failing to maintain adequate flood insurance in two instances;
- Section 339.7 of the FDIC Rules and Regulations, 12 C.F.R. § 339.7, by failing to properly force place flood insurance in two instances; and
- Section 339.9(a) of the FDIC Rules and Regulations, 12 C.F.R. § 339.9(a), by failing to provide notice to borrowers that the collateral for the loan was in a designated special flood hazard area in six instances.
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