Prime Credit, L.L.C., IMC Capital, L.L.C., Commercial Credit Consultants, Blake Johnson, Eric Schlegel, Park View Law, and Arthur Barens

2017 Community Banks / Credit Unions

CFPB Capital Deficiency

Penalty

$1.5 million

Outcome

Prime Credit, L.L.C., IMC Capital, L.L.C., Commercial Credit Consultants, Blake Johnson, Eric Schlegel, Park View Law, and Arthur Barens was subject to a $1,500,000 enforcement action by the Consumer Financial Protection Bureau (CFPB).

Details

Prime Credit, L.L.C., IMC Capital, L.L.C., Commercial Credit Consultants, Blake Johnson, Eric Schlegel, Park View Law, and Arthur Barens — $1,500,000 CFPB Enforcement

Outcome: Prime Credit, L.L.C., IMC Capital, L.L.C., Commercial Credit Consultants, Blake Johnson, Eric Schlegel, Park View Law, and Arthur Barens was subject to a $1,500,000 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 — Prime Credit, L.L.C., IMC Capital, L.L.C., Commercial Credit Consultants, Blake Johnson, Eric Schlegel, Park View Law, and Arthur Barens

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