FDIC releases September enforcement actions

Bank Regulatory Federal Issues FDIC Enforcement Flood Disaster Protection Act National Flood Insurance Act Mortgages

On October 28, the FDIC released a list of administrative enforcement actions taken against banks and individuals in September. During the month, the FDIC made public 12 orders consisting of “two consent orders, five orders of prohibition, two orders to pay a civil money penalty, two orders of termination of insurance, and one section 19 order.” The FDIC also publicly released an order to pay a civil money penalty taken against an Illinois-based bank related to alleged violations of the Flood Disaster Protection Act and the National Flood Insurance Act for failure to follow lender placement flood insurance procedures in 13 instances. The order requires the payment of an $11,625 civil money penalty.