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1993-173
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1993-173
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Last modified
8/4/2020 11:46:58 AM
Creation date
8/4/2020 10:18:32 AM
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Resolutions
Resolution Number
93-173
Approved Date
10/05/1993
Subject
Opposing Senate Bill 1405 - National Flood Insurance
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S 1405-0-4 <br />25 <br />1 <br />after notice and an opportunity for a hearing on the <br />2 <br />record., <br />3 <br />"(2) TOTAL AMOUNT.—The total amount of <br />4 <br />penalties assessed under this subsection against a <br />5 <br />single regulated lending institution for any calendar <br />6 <br />year may not exceed $100,000. <br />7 <br />"(3) SALES OR TRANSFERS.—The subsequent <br />8 <br />sale or other transfer of a loan by a regulated lend - <br />9 <br />ing institution that has committed a violation of this <br />10 <br />section shall not affect the liability of the transfer - <br />11 <br />ring institution with respect to any penalty under <br />12 <br />this subsection. An institution shall not be liable for <br />13 <br />a violation relating to a loan committed by another <br />14 <br />institution that previously held the loan. <br />15 <br />"(4) 3 -YEAR LIMIT.—No penalty may be im- <br />16 <br />posed under this subsection after the expiration of <br />17 <br />the 3 -year period beginning on the date of the occur - <br />18 <br />rence of the violation. <br />19 <br />"(g) ADDITIONAL ACTIONS.—If a Federal entity for <br />20 lending regulation determines - <br />21 <br />"(1) that a regulated lending institution has <br />22 <br />demonstrated..a pattern and practice of noncompli- <br />23 <br />ante in violation of the regulations issued pursuant <br />24 <br />to subsection (b) or subsection (d) or the notice re - <br />S 1405-0-4 <br />
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