What type of penalty can the Attorney General impose if a licensee commits a willful violation?

When a licensee commits a willful violation, the Attorney General has the authority to impose civil penalties. Civil penalties are financial penalties that can be levied against individuals or entities for non-compliance with established laws and regulations. This form of enforcement allows for accountability while also serving as a deterrent to prevent future violations.

Civil penalties can vary in amount and are designed to reflect the severity and nature of the violation. They are distinct from criminal charges, which involve prosecution by the state and could lead to imprisonment. Suspension of a license and probation are disciplinary actions that may also be taken, but they do not specifically categorize the financial repercussions as civil penalties do. In the context of mortgage lending and licensing, civil penalties serve as a crucial tool to ensure adherence to laws designed to protect consumers and maintain the integrity of the financial system.