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Lawmakers are scheduled to examine concerns on Wednesday that a hike in flood insurance premiums set to go into effect this fall could topple the still weakened real estate market.
September 17 -
The lenders allegedly forced homeowners to purchase flood insurance in excess of legal limits and received commissions from the sale of the policies.
January 4 -
The Office of the Comptroller of the Currency has taken enforcement measures against six banks and terminated actions against a half dozen others.
December 24
The Federal Reserve Board has ordered Missouri Bank in Warrenton to pay a civil money penalty for violating the National Flood Insurance Act.
The $195 million-asset bank agreed to pay $1,870 to the National Flood Insurance Program, according to the Fed's
The order, dated last week, did not describe the violation. Federal law requires property owners in high-risk areas to purchase flood insurance, and banks are charged with ensuring that properties in these areas have sufficient coverage.
