Toronto's pretty serious, I understand.
Here the fine is theoretically the same, but it's hard to get stopped. Actually, Cambridge will cite but it's not a moving violation. It's on the same ticket as littering and is only a $20 fine.
There is no reason that a bike violation should impact your driver's license. In Mass it doesn't. In NYC it takes points off. Not only does it not make sense in the ways pointed out above, but how come someone with a driver's license pays a steeper penalty for a bike infraction under that rule than someone without? What if I commit a bicycle infraction and then go get a driver's license. Does my license get dinged retroactively?