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Lease & finance · Auto lender records
Westlake Financial is a Los Angeles-based auto finance company that buys and services retail installment contracts across the credit spectrum, working through a large network of dealers rather than lending to consumers directly at the counter. As with the other companies covered on our auto lenders hub, Westlake is a separate legal entity from the dealership where a buyer signed, and it has its own public regulatory record. This page summarizes that record, citing the agency press release or consent order for each fact, and explains the statutes involved. Where a dealer's own conduct is also part of the story, a free case evaluation reviews both together.
Who Westlake Financial Is
Westlake Financial Services, formally Westlake Services, LLC, was founded in 1988 and is headquartered in Los Angeles, California, as the financial services arm of the Hankey Group of Companies. According to the company's own site, Westlake finances new and used vehicle retail installment contracts across the credit spectrum, from prime to subprime borrowers, working with more than 50,000 dealerships nationwide through a network of Dealer Account Managers. Most buyers encounter Westlake's name when it appears as the assignee on a contract signed at a participating dealership, or afterward on a monthly statement or credit report.
The Public Enforcement Record
CFPB consent order over debt collection (2015)
On October 1, 2015, the Consumer Financial Protection Bureau issued a consent order against Westlake Services, LLC, doing business as Westlake Financial Services, and its affiliate Wilshire Consumer Credit, LLC. The CFPB alleged that collection staff altered outgoing caller ID information to impersonate repossession companies, florists, and process servers, or to display messages such as "Auto Recovery," to reach borrowers who might otherwise avoid a call; made false threats of legal action, arrest, or criminal prosecution referrals the company had no intention or authority to carry out; disclosed borrowers' debt information to employers, co-workers, and family members without authorization; and, in some instances, paid third-party repossession companies for collection calls even when no repossession was planned, while failing to disclose the APR in certain advertisements. The order required $44.1 million in relief to consumers, as cash payments and balance reductions, plus a $4.25 million civil penalty. See the CFPB's press release and the stipulation and consent order. The company agreed to the order without a specific admission of the alleged violations.
Justice Department settlement over servicemember lending rights (2022)
On September 28, 2022, the U.S. Attorney's Office for the Central District of California announced that Westlake Financial agreed to pay more than $225,000 to resolve allegations it violated the Servicemembers Civil Relief Act by not providing qualifying servicemembers the interest rate reduction the Act requires for the full period they were entitled to it, and by improperly delaying approval of their benefit requests. The settlement required $185,460 in restitution to more than 250 servicemembers and a $40,000 civil penalty. See the Department of Justice press release.
The Statutes at Issue, and How They Protect Buyers in Florida, Vermont, D.C., Michigan, and Texas
The Westlake matters centered on abusive debt collection tactics, undisclosed loan advertising terms, and servicemember lending protections. The same categories of federal and state law give buyers in the jurisdictions this firm handles their own, individual rights:
- Florida. The Florida Consumer Collection Practices Act, sections 559.55–.785, Florida Statutes, prohibits the kind of caller-ID deception, unauthorized third-party disclosure, and false threats described in the 2015 CFPB order; Article 9 repossession and deficiency rules appear at sections 679.609, 679.611–.614, and 679.625, Florida Statutes.
- Vermont. The Consumer Protection Act, 9 V.S.A. § 2453, with a private right under 9 V.S.A. § 2461(b) for actual damages or the consideration paid, plus exemplary damages up to three times that amount, reaches deceptive collection conduct; Article 9 repossession duties appear at 9A V.S.A. §§ 9-609, 9-611–9-614, and 9-625.
- Washington, D.C. The Consumer Protection Procedures Act, D.C. Code § 28-3904, with treble damages or $1,500 per violation under D.C. Code § 28-3905(k)(2), applies without a reliance requirement; repossession duties appear at D.C. Code §§ 28:9-609, 28:9-611–28:9-614, and 28:9-625.
- Michigan. The federal Fair Debt Collection Practices Act, 15 U.S.C. § 1692 et seq., and the Michigan Consumer Protection Act, MCL 445.903 — following the Michigan Supreme Court's July 31, 2026 decision in Attorney General v. Eli Lilly and Company narrowing an earlier exemption, a decision still being applied by lower courts — reach deceptive collection practices; Article 9 repossession duties appear at MCL 440.9609, 440.9611, 440.9614, and 440.9625.
- Texas. The Deceptive Trade Practices–Consumer Protection Act, Tex. Bus. & Com. Code § 17.46(b), subject to the 60-day pre-suit notice in § 17.505, reaches false or misleading collection representations; repossession duties appear at Tex. Bus. & Com. Code §§ 9.609, 9.611, 9.614, and 9.625.
Because Westlake buys contracts dealers originate, the FTC's Holder Rule, 16 C.F.R. Part 433, and the Truth in Lending Act, 15 U.S.C. § 1601 et seq., also apply as described on our auto lenders page: the 2015 CFPB order's finding about undisclosed APR in advertising is the same disclosure TILA requires in the contract itself, and the Holder Rule can extend a dealer-level claim to the finance company that bought the contract.
What Matters If Your Loan Is With Westlake Financial
- Collection call records. Caller ID logs, voicemails, and notes of who a collector claimed to be, or what a collector threatened, are what the 2015 CFPB order's findings turn on, whether the calls happened before or after that order.
- Whether a servicemember rate reduction was applied. Active-duty orders or PCS paperwork, compared against the interest rate actually charged and the date any reduction started, are what a Servicemembers Civil Relief Act question depends on.
- Repossession and deficiency paperwork. Notice of disposition, the sale price, and any written deficiency explanation are measured against the state's own Article 9 requirements, separate from either federal settlement.
- The dealer's role. Where a dealer's own representations at signing are part of the picture, the Holder Rule notice on the contract is what connects that conduct to Westlake as the assignee.
A free case evaluation with the retail installment contract, payment history, and any collection records is how these are reviewed together.
Westlake Financial Questions
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What did the CFPB allege against Westlake in 2015?
What was the 2022 Justice Department settlement about?
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