The Federal Reserve Board announced today that RBC Centura Bank has agreed to a civil monetary policy over alleged violations of the rules implementing the National Flood Insurance Act.

The Fed announced the issuance of a consent order of assessment of a civil money penalty against RBC Centura. The order requires the bank to pay a civil money penalty of US$106,930, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund.

RBC Centura consented to the order, without admitting to any allegations, in connection with its alleged violations of the board’s regulations implementing the National Flood Insurance Act.