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The Office of the Comptroller of the Currency took six enforcement actions and ended several others last month, the agency said Friday.
August 16 -
The Federal Reserve Board has ordered Missouri Bank in Warrenton to pay a civil money penalty for violating the National Flood Insurance Act.
September 18 -
Regulators have proposed new rules that would require banks to accept private flood insurance on homes in high-risk areas.
October 11
The Federal Reserve Board has hit three Southern banks with enforcement actions.
Highlands Community Bank in Covington, Va., and New Peoples Bank in Honaker, Va., were each ordered to pay civil money penalties for violating the National Flood Insurance Act. Banks are responsible for ensuring that property owners in high-risk areas have sufficient flood insurance coverage under federal law.
Highlands, a $125 million-asset company,
The Fed also entered into a
The Fed agreement with North Georgia further orders the company to refrain from paying dividends and incurring or guaranteeing debt without regulatory approval. North Georgia must submit progress reports to the Federal Reserve Bank of Atlanta within 45 days after the end of each quarter.