Citibank Fined Nearly $18 Million for Flood Insurance Violations

January 22, 2020

American Banker, Jan. 21, 2020–Brendan Pedersen (subscription)
The Office of the Comptroller of the Currency announced the civil money penalty on Tuesday, saying Citigroup’s main bank subsidiary violated the Flood Disaster Protection Act by not ensuring that borrowers with homes in flood hazard areas had insurance coverage.
https://www.americanbanker.com/news/citibank-fined-nearly-18-million-for-flood-insurance-violations