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OCC Fines Citibank $17M After Faulty Flood Regulation

OCC Fines Citibank $17M After Faulty Flood Regulation

A recent news update shared by the Office of the Comptroller of the Currency (OCC) reported that Citibank, N.A, of Sioux Falls, South Dakota was fined a $17,998,510 civil money penalty after engaging in an ongoing practice of violating regulations cited by the Flood...
National Impact of Flood Claims on the US Housing Market

National Impact of Flood Claims on the US Housing Market

The annual number of insurance claims under NFIP demonstrates the prevalence of natural disasters or flooding issues nationwide – incidents that effect the US housing market and values. 2019 Claims Records and Payments Note that states within the top 15 amount...

NFIP Reauthorization

House and Senate to negotiate by March 23, 2018. NFIP Reauthorization Update: On February 9th 2018, President signed legislation passed by both houses of Congress that extends the National Flood Insurance Programs authorization to March 23, 2018.  Congress must now...