What action can the DBR impose if a licensee violates regulations?

The action that the Division of Banking and Regulation (DBR) can impose if a licensee violates regulations is to order restitution. This means that the DBR has the authority to require a licensee to compensate affected parties for any financial harm caused by their actions or violations. Restitution serves as an important mechanism to ensure that consumers are made whole for losses incurred due to the misconduct of a licensee, thereby promoting accountability and safeguarding public trust in the lending industry.

While other actions, such as providing a warning or mandating additional training, may be part of a broader strategy for addressing compliance issues, they typically fall short of addressing the financial impact on individuals who have been harmed. Offering legal representation is not within the purview of the DBR, as their role focuses on regulating and enforcing adherence to laws rather than providing legal support to licensees.