What action will the Commissioner take if she or he determines a person has brokered, made, or serviced a loan in violation of the Act?
Pursuant to authority in the Act, the Commissioner will do one of the following: • Refer the matter to the Attorney General or a county Prosecuting Attorney for legal action. • Initiate an administrative enforcement action pursuant to a licensing or chartering statute under which the person is otherwise regulated. • Forward a complaint to another appropriate regulatory authority such as the Office of the Comptroller of the Currency, the Office of Thrift Supervision, or the National Credit Union Administration.
Related Questions
- Would the licensee be in violation of the Alcoholic Beverage Control Act for selling an alcoholic beverage to a person under 21 who appeared to be twenty-one years of age or older?
- What action will the Commissioner take if she or he determines a person has brokered, made, or serviced a loan in violation of the Act?
- Can the mortgage entity be responsible for the action of a control person or a loan originator?
