What is the primary federal agency responsible for enforcing the Real Estate Settlement Procedures Act?

The primary federal agency responsible for enforcing the Real Estate Settlement Procedures Act (RESPA) is the Consumer Financial Protection Bureau (CFPB). The CFPB was established to promote transparency and protect consumers within the financial services sector, which includes residential mortgage lending practices governed by RESPA.

RESPA aims to provide borrowers with information about the costs of their settlement services and protect them from abusive practices, such as undisclosed fees and kickbacks. The CFPB has the authority to supervise, enforce compliance, and conduct investigations related to RESPA, ensuring fair treatment of consumers in real estate transactions.

Other agencies, while involved in housing and financial regulations, do not take on the primary enforcement role specific to RESPA. For example, the Department of Housing and Urban Development (HUD) historically administered RESPA before the establishment of the CFPB, but now the CFPB handles the enforcement aspects.