Westlake Services, LLC, d/b/a Westlake Financial Services. LLC, and Wilshire Consumer Credit, LLC, d/b/a as Wilshire Commercial Capital, LLC

2015 Community Banks / Credit Unions

CFPB Capital Deficiency Consumer Protection Violation

Penalty

$44.1 million

Outcome

Westlake Services, LLC, d/b/a Westlake Financial Services. LLC, and Wilshire Consumer Credit, LLC, d/b/a as Wilshire Commercial Capital, LLC was subject to a $44,100,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Details

Westlake Services, LLC, d/b/a Westlake Financial Services. LLC, and Wilshire Consumer Credit, LLC, d/b/a as Wilshire Commercial Capital, LLC — $44,100,000 CFPB Enforcement

Outcome: Westlake Services, LLC, d/b/a Westlake Financial Services. LLC, and Wilshire Consumer Credit, LLC, d/b/a as Wilshire Commercial Capital, LLC was subject to a $44,100,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Action Type: enforcement-action

How Crucible Prevents This

Crucible's continuous compliance monitoring would have flagged the regulatory gaps that led to this CFPB enforcement action — through automated regulatory adherence checks, BSA/AML monitoring, consumer protection compliance tracking, and corrective action plan enforcement — preventing the violations before they triggered federal action.

Source: CFPB Enforcement Actions — Westlake Services, LLC, d/b/a Westlake Financial Services. LLC, and Wilshire Consumer Credit, LLC, d/b/a as Wilshire Commercial Capital, LLC

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