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First Fed Bank pays $13,000 for flood insurance rules violations

Port Angeles, WA
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"The FDIC determined that the Bank has engaged in a pattern or practice of committing violations of the FDPA and Part 339 of the FDIC’s Rules and Regulations, 12 C.F.R. Part 339, 12 C.F.R. § 339.3(a), by failing to obtain adequate flood insurance on buildings and/or the buildings’ contents securing designated loans at the time the Bank made, increased, extended, or renewed the loans."

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