What is the maximum fine that can be imposed on a licensee by the Department of Finance?

The maximum fine that can be imposed on a licensee by the Department of Finance is $2,500. This amount reflects the regulatory framework and compliance measures established to ensure that licensees adhere to the laws governing personal lending and mortgages in Utah. The specific figure of $2,500 serves as a deterrent against violations while also allowing the Department of Finance to enforce compliance effectively without being excessively punitive. Such fines are an important tool for maintaining standards within the industry, ensuring that licensees operate responsibly and ethically, which ultimately protects consumers and maintains trust in the financial system.