FDIC Makes Public June Enforcement Actions; No Administrative Hearings Scheduled for August 2012 (FDIC Press Release)

The FDIC released a list of 48 orders of administrative enforcement actions taken against banks and individuals in June. Among those orders were civil money penalties against five banks for violations of the Flood Disaster Protection Act, including failure to obtain flood insurance on loans secured by property located in flood hazard areas; a civil money penalty for violation of the Real Estate Settlement Procedures Act, where the bank created and operated a company used as a conduit for paying unlawful mortgage loan referral fees; and several consent orders arising from charges of unsafe and unsound banking practices relating to capital and earning levels, asset quality, management, and liquidity. No administrative hearings are scheduled for August 2012.

View press release in full here (links externally to FDIC website).Additional Materials: June 2012 Enforcement Decisions and Orders