SunTrust Bank fined $1.5m by Fed for violations of Flood Insurance ActStaff Writer | May 26, 2017
SunTrust Bank will pay a fine of more than $1.5 million for the bank’s “pattern or practice of violations” of a portion of the National Flood Insurance Act, the Board of Governors of the Federal Reserve (Fed) announced.
Banking The three-page announcement
The Fed announcement simply states that SunTrust’s $1.501 million fine will be paid to the National Flood Insurance Program. ■