Arizona Real Estate License Practice Exam 2025 – All-in-One Resource to Pass with Confidence!

Question: 1 / 1505

Who is primarily responsible for enforcing the Real Estate Settlement Procedures Act?

Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau (CFPB) is primarily responsible for enforcing the Real Estate Settlement Procedures Act (RESPA). This act aims to provide transparency in the real estate settlement process and protect consumers from abusive practices. The CFPB oversees and implements regulations to ensure compliance with RESPA, making sure that consumers are adequately informed about their settlement costs and the services provided during the closing process.

While other entities like the Federal Housing Authority, Department of Justice, and Federal Trade Commission may have roles in related areas of real estate or consumer protection, they do not have the primary enforcement responsibility for RESPA. The CFPB was specifically created to focus on consumer financial protection laws, which includes overseeing the practices outlined in RESPA, ensuring a fair and transparent process for homebuyers and borrowers.

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Federal Housing Authority

Department of Justice

Federal Trade Commission

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