LIEB BLOG

Legal Analysts

Showing posts with label national association. Show all posts
Showing posts with label national association. Show all posts

Tuesday, February 18, 2020

Why do banks care about your flood insurance?

Citibank recently paid $17,998,510.00 pursuant to a consent order for failing to place floord "insurance in a timely manner on residential Designated Loans and engaged in a pattern or practice of violations of the Flood Act and its implementing regulations, including 12 C.F.R. § 22.7(a)".

That's almost eighteen million reasons to care.