So after a bit of help on the Apple forums a re-install was suggested. I used FCS Remover to un-install and did a clean install.
Somehow, this problem IS STILL HAPPENING!!!!
iMovie is importing the footage just fine so it is not a problem with both cameras I’ve tried, the tape, or the hard drive, so it HAS to be a FCP issue. Did I correctly uninstall and re-install? Can anyone think of any other issues that may be causing this?