Penalties for violating RESPA include which of the following?

Penalties for violating RESPA include which of the following?

• A. $10,000 fine, 1 year in prison, or both
• B. $1,000 fine
• C. $50,000 fine
• D. Suspension of license

Answer: (A)

RESPA penalties include criminal penalties for violations, especially related to kickbacks and unearned fees. The statute sets a fine of up to $10,000 and imprisonment of up to one year for individuals who knowingly and willfully violate RESPA, or the two penalties can apply together. This combination reflects the seriousness of RESPA’s protections and the level of conduct it aims to deter. The other options don’t match these criminal penalties: a $1,000 fine is below the statutory amount, a $50,000 fine is not the amount specified for these criminal violations, and suspension of a license isn’t a federal RESPA penalty (licensing actions are handled by state boards). So the best answer is the one that states the correct range of criminal penalties.

RESPA penalties include criminal penalties for violations, especially related to kickbacks and unearned fees. The statute sets a fine of up to $10,000 and imprisonment of up to one year for individuals who knowingly and willfully violate RESPA, or the two penalties can apply together. This combination reflects the seriousness of RESPA’s protections and the level of conduct it aims to deter. The other options don’t match these criminal penalties: a $1,000 fine is below the statutory amount, a $50,000 fine is not the amount specified for these criminal violations, and suspension of a license isn’t a federal RESPA penalty (licensing actions are handled by state boards). So the best answer is the one that states the correct range of criminal penalties.