meta_id 3339146

On July 8, 2026, the Washington Division of Consumer Services Enforcement Actions issued a consent order resolving an investigation into West Capital Lending, Inc. (NMLS #1566096) for violations of the Consumer Loan Act (RCW 31.04). The consent order, case number C-22-3457-26-CO01, was entered following a statement of charges issued on September 8, 2025. The Department of Financial Institutions conducted an examination of West Capital Lending between March 18, 2024, and March 31, 2024, identifying multiple violations. These included employing unlicensed mortgage loan originators and managers, failing to maintain required supervisory plans, and failing to maintain surety bond coverage for 2023 and 2024. The company also failed to submit timely and accurate annual reports, did not provide rate lock agreements to borrowers within the required three-business-day timeframe, and failed to provide complete and accurate closing disclosures. Additional violations included advertising prohibited terms such as "lowest interest rates and closing costs possible" and "most competitive rates," operating webpages without required license number information, and failing to develop and implement a compliant Bank Secrecy Act and Anti-Money Laundering program. The company also failed to comply with federal regulations under 12 CFR and 31 CFR. Under the consent order, West Capital Lending must cease and desist from violating the Consumer Loan Act and related rules. The company must pay a fine of $75,000 and an investigation fee of $3,000, totalling $78,000. The consent order became effective upon execution by Ali Higgs, Director of the Division of Consumer Services. For further information, contact the Consumer Services Division Enforcement unit at (360) 902-8703 or csenforcecomplaints@dfi.wa.gov.