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State Farm Bank FSB pays $547,200 for flood violations

Bloomington, IL
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The OCC has issued an Order for a Civil Money Penalty of $547,200 in the matter of State Farm Bank, F.S.B., Bloomington, Illinois, for a pattern or practice of violation of the Flood Disaster Protection Act and its implementing regulations, specifically 12 CFR 22.3 (Requirement to purchase flood insurance where available) and 22.7 (Force placement of flood insurance).

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