• OLA Asks CFPB to Promote Innovation, Access to Credit in New Rule

    The Online Lenders Alliance sent the attached letter to the CFPB’s Consumer Advisory Board (CAB) in advance of its meeting tomorrow in Omaha where it will discuss its proposals to regulate short-term loans. “The CFPB’s final rule must promote innovation in the market place and preserve access to credit for the

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  • OLA Praises FTC for Obtaining Money for Defrauded Consumers

    May 15, 2015 (Washington, D.C.) — The Online Lenders Alliance (OLA) today praised the Federal Trade Commission (FTC) for obtaining refunds for consumers defrauded in a phantom debt collection scam. “We applaud the FTC for securing refunds for consumers victimized by this fraudulent debt collector,” said Lisa McGreevy, President and

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  • CFPB Proposal Would Hurt Consumers it’s Designed to Help

    The following op-ed was published on The Hill website on April 28: By Samantha Bentson I recently attended the CFPB’s Richmond hearing where the agency released its draft proposal governing short-term credit.  During the public comment period I heard many of the same stories from customers and employees that I

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