• OLA Statement on OGR Report on FDIC and Operation Choke Point

    Posted by: Kristen Tyagi Statement from Lisa McGreevy, President and CEO, Online Lenders Alliance: “The report confirms what we’ve always suspected: government bureaucrats, lacking legal authority, were bullying banks into choking off legal businesses because they simply didn’t like the industry.  This indisputable evidence should be a wake up call to Congress.”

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  • OLA Member Alert: LoanReverse.com

    Please click on the link to read about the Member Alert sent out on July 18th, 2014 regarding LoanReverse.com OLA Member Alert: LoanReverse.com

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  • Online Lenders Alliance Applauds FTC Action Against Fraudulent Debt Collectors

    Posted by: Rachelle Grey July 1, 2014 (Washington, D.C.) — Lisa McGreevy, President and CEO of the Online Lenders Alliance (OLA), today issued the following statement praising the Federal Trade Commission’s (FTC) action against debt collector Williams Scott & Associates, LLC that attempted to collect debts from consumers that did not owe money. “We applaud FTC’s action […]

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  • OLA Statement : The U.S. Senate Banking Subcommittee Hearing on Alternative Financial Produc

    Posted by: Liz Jones March 26, 2013 (Washington, D.C.) — The Online Lenders Alliance (OLA) today issued the following statement regarding the United States Senate Banking, Housing, & Urban Affairs Subcommittee hearing titled “Are Alternative Financial Products Serving Consumers?”: “Consumers need more choices to meet their diverse credit challenges. Congress must create a market environment […]

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  • Banks and Nonbanks Must Meet Needs of Underbanked and Unbanked Populations

    Posted by: Liz Jones Online Lenders Alliance member companies continue to respond to growing demand December 13, 2012 (Washington, D.C.) — The Federal Deposit Insurance Corporation (FDIC) today released the results of its 2011 FDIC Survey of Banks’ Efforts to Serve the Unbanked and Underbanked, highlighting both strengths and weaknesses in their ability to meet […]

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  • OLA Applauds FTC’s Action Against Phony Debt Collection Companies

    Posted by: Jeff Brownlee October 24, 2013 (Washington, D.C.) – Lisa McGreevy, President & CEO of the Online Lenders Alliance (OLA) today issued the following statement applauding the Federal Trade Commission (FTC) for its action against fraudulent debt collection companies who were illegally targeting consumers. “We commend the FTC today for their action against phantom […]

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  • OLA Applauds FDIC’s Confirmation that Banks Can Process Payments for Online Lenders

    Posted by: Jeff Brownlee September 27, 2013 (Washington, D.C.) – Lisa McGreevy, President & CEO of the Online Lenders Alliance (OLA) today issued the following statement commending the Federal Deposit Insurance Corporation (FDIC) for publishing a Financial Institution Letter confirming that banks can continue to process transactions between online lenders and consumers. “We applaud the […]

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  • OLA to NACHA: Online Lenders and Loans are Legal

    Posted by: Jeff Brownlee The group that runs the Automatic Clearing House (ACH) system is asked to clarify its letter to banks and processors August 20, 2013 (Washington, D.C.) – The Online Lenders Alliance (OLA) is asking NACHA, The Electronics Payments Association, to clarify a recent letter it sent to banks that may have been […]

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  • OLA Fights Government Effort to Pressure Banks and Processors into Denying Online, Short-Term Credit

    Posted by: Jeff Brownlee August 12, 2013 (Washington, D.C.) – Lisa McGreevy, President & CEO of the Online Lenders Alliance (OLA) today made it clear that the group will fight all attempts by state and federal governments to pressure banks and payment processors to stop processing legal, consumer-authorized transactions. “We are weighing all options to […]

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  • OLA Responds to New York State Department of Finance Cease and Desist Letter’s to Online Lenders

    Posted by: Jeff Brownlee August 5, 2013 (Washington, D.C.) – Lisa McGreevy, President & CEO of the Online Lenders Alliance (OLA) today issued the following statement regarding the New York State Department of Finance’s issuance of cease and desist letters to several online lenders. “Like many consumers nationwide, New York residents are looking for more […]

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  • Statement from Lisa McGreevy in Response to the US Senate Special Committee on Aging Hearing

    Posted by: Jeff Brownlee July 24, 2013 (Washington, D.C.) — The Online Lenders Alliance (OLA) today issued the following statement in response to the United States Senate Special Committee on Aging hearing titled “Payday Loans: Short-term Solution or Long-term Problem?”: “Many Americans face problems when trying to access credit and rely on short-term credit options […]

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  • Statement from Lisa McGreevy on Richard Cordray’s Confirmation as the Director of the CFPB

    Posted by: Jeff Brownlee July 16, 2013 (Washington, D.C.) — The Online Lenders Alliance (OLA) today issued the following statement after the U.S. Senate confirmed Richard Cordray as the Director of the Consumer Financial Protection Bureau: “Since the CFPB’s creation, OLA and its members have enjoyed a cooperative and productive relationship with the bureau.  Our […]

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  • OLA Recognizes MicroBilt as 2012 Innovator of the Year

    Posted by: Liz Jones Adaptive Payments and ConnectMedia Ventures named runners up The Online lenders Alliance (OLA) is pleased to announce that MicroBilt Corporation is the recipient of the 2012 OLA Innovator of the Year prize for its new verification software that enhances the customer experience by enabling borrowers to efficiently move through the loan […]

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  • OLA Unveils Improved Marketing Best Practices

    Posted by: Liz Jones Updated best practices provide clearer boundaries for members and greater transparency for consumers As part of an ongoing pledge to protect consumers, the Online Lenders Alliance (OLA) has unveiled new, updated Best Practices that clarify the boundaries of marketing short-term, small-dollar loans online. “Our member companies set the standards for how […]

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  • OLA Statement On Merkley Bill

    Posted by: Liz Jones “OLA believes consumers should have access to more credit options when they need it and in the safest, most convenient way.  We’re concerned this legislation could limit consumer access to credit,” said Lisa McGreevy, President and CEO of the Online Lenders Alliance.  “We understand and share the goal of Senator Merkley […]

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  • OLA Supports HR 6139 “Consumer Credit Access, Innovation and Modernization Act”

    Posted by: Liz Jones A federal charter will allow nonbanks to provide more credit options to meet consumer demand July 19, 2012 (Washington, D.C.) – The Online Lenders Alliance (OLA) today expressed strong support for the bipartisan HR 6139, the Consumer Credit Access, Innovation and Modernization Act introduced by Reps. Blaine Luetkemeyer (R-MO) and Joe […]

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  • OLA Launches Anti-Fraud Consumer Awareness Campaign

    Washington, D.C. June 27, 2012 – The Online Lenders Alliance (OLA) launched Wednesday an anti-fraud awareness campaign designed to empower consumers with tools and resources so they can protect themselves from becoming victims. “As industry leaders that adhere to a code of conduct and operate according to a set of best practices, it is our responsibility to make sure consumers are fully informed and use all lending products and practices responsibly,” said Lisa McGreevy , President and CEO of OLA. “In order to show this commitment we have created an online education campaign to fight fraud and give consumers the resources they need to protect themselves.”

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  • OLA Praises FTC Successful Halt to Fraudulent Debt Collector

    Posted by: Liz Jones Washington, D.C., April 11, 2012 – “The Online Lenders Alliance (OLA) is pleased to see that actions taken today by the Federal Trade Commission (FTC) against another fraudulent debt collector has resulted in a halt to the illegal conduct and a temporary freeze of the operation’s assets,” said Lisa McGreevy, President and […]

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  • OLA Praises FTC’s Actions Against Fraudulent Debt Collector

    Posted by: Liz Jones Washington, D.C., February 21, 2012 – The Online Lenders Alliance (OLA) today praised the Federal Trade Commission’s (FTC) actions against a fraudulent debt collector whose companies had been making fraudulent calls to consumers demanding payments and threatening legal action.  OLA reported fraudulent and threatening calls to the FTC over two years ago […]

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