New Jersey Administrative Code
Title 3 - BANKING
Chapter 1 - GENERAL PROVISIONS
Subchapter 9 - HOME MORTGAGE DISCLOSURE
Section 3:1-9.16 - Continued violation of Act; penalty

Universal Citation: NJ Admin Code 3:1-9.16

Current through Register Vol. 56, No. 18, September 16, 2024

(a) A depository institution which continues to violate the provisions of the Act or 3:1-9.7 after being ordered by the Commissioner to cease such practices shall be liable to a penalty of $5,000 for each offense. Such penalty shall be in addition to and not in lieu of any other provisions of law applicable upon a depository institution's failure to comply with an order of the Commissioner.

(b) If the Commissioner determines that a depository institution is continuing to violate the provisions of the Act or 3:1-9.7 after being ordered to cease such practices, he or she shall issue and serve such depository institution by certified mail, return receipt requested, an order to pay the applicable penalties assessed against the depository institution.

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