Which federal agency is responsible for administering the Real Estate Settlement Procedures Act?

The Consumer Financial Protection Bureau (CFPB) is the federal agency responsible for administering the Real Estate Settlement Procedures Act (RESPA). RESPA was enacted to provide consumers with information about the settlement process and ensure that they receive accurate and timely disclosures regarding the costs associated with obtaining a mortgage and other real estate transactions. The CFPB oversees compliance with RESPA requirements, ensuring that borrowers are protected from abusive practices in the home-buying process.

The other agencies listed do have roles in overseeing various aspects of financial institutions and consumer protection, but the CFPB is specifically dedicated to enforcing RESPA. For instance, the Federal Reserve primarily focuses on monetary policy and regulating banks, while the Office of the Comptroller of the Currency oversees national banks and federal savings associations but does not handle RESPA. The Federal Housing Administration, on the other hand, is primarily involved in providing mortgage insurance and facilitating housing finance, rather than in administering RESPA. This clear delineation of responsibilities highlights why the CFPB is the correct choice for this question.