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American Bank of Beaver Dam pays $800 flood penalty

Beaver Dam, WI
09/17/2019
Fine Amount: 
$800
Issued by: 

American Bank of Beaver Dam was order to pay an $800 civil money penalty for engaging in a pattern or practice of violating flood insurance laws and regulations by failing:

  • to require escrow of flood insurance premiums when it required escrow of taxes, insurance, etc., for a loan secured by residential improved property, for two loans
  • to provide the borrowers a Notice of Special Flood Hazard and Availability of Federal Disaster Relief Assistance on four occasions.

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