Wells Fargo given flood fine (The Argus Leader)

The federal government has fined Wells Fargo Financial Bank in Sioux Falls for failing to ensure that thousands of borrowers have adequate flood insurance. The penalty – $125,000 – is the maximum amount that the Federal Deposit Insurance Corp. can impose in a one-year period for violations of the Flood Disaster Protection Act of 1973. The FDIC imposed the penalty last month, but it was not made …