Enforcement powers of the attorney general

(1) (a) The attorney general has the sole authority to enforce the provisions of this chapter. (b) Nothing in this chapter creates a private right of action. (2) (a) If a person believes that a financial entity violated or is in violation of this chapter, the person may file a complaint with the attorney general. (b) Upon receipt of a complaint, the attorney general shall initiate an investigation. (3) If, based on investigation, the attorney general believes that a financial entity violated or is in violation of this chapter, the attorney general shall send the financial entity written notice that identifies each violation and directs the financial entity to cease each violation within 30 days after the day on which the financial entity receives the notice. (4) (a) The attorney general shall initiate a civil action against a financial entity that fails to cease a violation of this chapter within the 30-day time period described in Subsection (3). (b) In an action under this subsection, the attorney general may seek, and the court may order: (i) injunctive relief; (ii) (A) if the court determines that the financial entity recklessly violated a provision of this chapter, a civil fine of $10,000 for each violation or actual damages, whichever is greater; or (B) if the court determines that the financial entity willfully violated a provision of this chapter, a civil fine of $25,000 for each violation or actual damages, whichever is greater; and (iii) costs and reasonable attorney fees to the attorney general if the court issues an injunction or imposes a civil fine.