TN bank draws $8,000 penalty over flood insurance violations

An $8,000 civil money penalty was assessed against First Vision Bank, Tullahoma, Tenn., on June 30 over the bank’s pattern or practice of violations of rules (Regulation H) implementing the National Flood Insurance Act (NFIA), according to a consent order announced Thursday by the Federal Reserve.

The June 30 order states that applicable penalties cannot exceed $2,252 per violation.

Federal Reserve Board issues enforcement action with First Vision Bank