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The Union Bank pays $12,400 flood penalty

Marksville, LA
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The FDIC issued an Order to Pay a Civil Money Penalty of $12,400 to The Union Bank, Marksville, Louisiana, having determining that the bank had engaged in a pattern or practice of committing violations of the Flood Disaster Protection Act and section 339.3(a) of the FDIC Rules and Regulations, for failing to obtain flood insurance coverage or an adequate amount of flood insurance coverage at loan origination, increase, renewal, or extension, for for failing to maintain flood insurance for the term of the loan, on 31 loans secured by a building or mobile home located or to be located in a special flood hazard area in which flood insurance is available.

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