Citbank, N.A. has been ordered to pay a $17.9 million civil money penalty for violating the Flood Disaster Protection Act (FDPA) and its implementing regulations.
The Office of the Comptroller of the Currency (OCC) found the Sioux Falls, S.D.-based bank engaged in a pattern or practice of violating 42 U.S.C. § 4012a(e) and 12 C.F.R. § 22.7(a).
Read on for more details from the consent order.
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