• OLA Releases Statement In Response To Google’s New Advertising Policy

    Lisa McGreevy, President and CEO of the Online Lenders Alliance (OLA), today issued the following statement in response to Google’s decision to ban advertisements from online lenders: “It’s disappointing that a site created to help give users full access to information is making arbitrary choices on the advertisements users are allowed to see from legal businesses. […]

    Continue reading
  • OLA Releases Statement In Response To US Treasury Department Report On Marketplace Lending

    Lisa McGreevy, President and CEO of the Online Lenders Alliance (OLA), today issued the following statement in response to the U.S. Treasury Department Report On Marketplace Lending: “The report released today by the Department of Treasury recognizes that there is a strong demand among consumers and businesses for online loans. What we need is a […]

    Continue reading
  • OLA Releases Statement In Response To CFPB Online Loan Payment Study

    Lisa McGreevy, President and CEO of the Online Lenders Alliance (OLA), today issued the following statement in response to the Consumer Financial Protection Bureau’s Online Loan Payment Study: “Bank account overdrafts are a lose-lose for online lenders and their customers. It is in the customers best interests as well as the lenders best interest for […]

    Continue reading
  • Testimony of CFPB Director Richard Cordray From HFSC Hearing

    Testimony of Richard Cordray Director, Consumer Financial Protection Bureau Before the House Committee on Financial Services March 16, 2016 Click here to view the full hearing  Chairman Hensarling, Ranking Member Waters, and Members of the Committee, thank you for the opportunity to testify today about the Consumer Financial Protection Bureau ‘s Semi-Annual Report to Congress. […]

    Continue reading
  • OLA Submits Testimony To California Hearing On “The State Of Consumer Lending”

    California Senate Assembly Banking and Finance Committee “The State of Consumer Lending in California” Statement of Lisa McGreevy President & CEO Online Lenders Alliance The Online Lenders Alliance (OLA) represents the growing industry of companies offering online consumer loans and related products and services. OLA members include online lenders and vendors and service providers to […]

    Continue reading
  • OLA Submits Testimony To HFSC Hearing On Small Dollar Lending

    United States House of Representatives Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit * Thursday, February 11, 2016 * Statement of Lisa McGreevy President & CEO Online Lenders Alliance The Online Lenders Alliance (OLA) is the center for lending, technology, and innovation. OLA represents the growing industry of companies offering online consumer […]

    Continue reading
  • Operation Choke Point Bill Passes The House Of Representatives

    OCP Bill Passes House of Representatives I am delighted to share with you the news that Congressman Luetkemeyer’s bill to stop Operation Choke Point, the Financial Institution Customer Protection Act of 2015 (H.R.766), has passed the House of Representatives.The bill passed by a vote of 250-169. This is a major win for our industry as […]

    Continue reading
  • Online Lenders Alliance Expresses Grave Concern over IG Findings of FDIC Conduct in “Operation Chokepoint”

    Following is a statement from Lisa McGreevy, President and CEO of the Online Lenders Alliance in response to the FDIC Inspector General’s Report on FDIC’s Role in “Operation Chokepoint” In its recently released report, the IG exonerated five FDIC officials who were accused of pursuing “their own personal, political, or moral agendas aimed at forcing […]

    Continue reading
  • OLA Applauds the “Sanctions with Teeth” in FTC Action against the Operators of Fraudulent Debt Collection Scheme

    WASHINGTON, September 16, 2015 – The Online Lenders Alliance (OLA) today praised the Federal Trade Commission’s (FTC) resolution of a complaint it filed against Broadway Global Master Inc. and In-Arabia Solutions Inc. which alleged that people working for the defendant “harassed consumers into paying a bogus debt.” According to the terms of the settlement, the […]

    Continue reading
  • OLA Applauds Creation of Small Business Borrowers Bill of Rights

    August 6, 2015 (Washington, D.C.) — The Online Lenders Alliance (OLA), today praised small business lending leaders’ creation of the Small Business Borrowers Bill of Rights. “I applaud small business lenders’ dedication to transparency and fairness with the creation of the Small Business Borrowers Bill of Rights.  Companies like Fundera, Lending Club, and Lending Circle […]

    Continue reading
  • ASAE Honors OLA’s “Look for the OLA Seal” Campaign

    WASHINGTON (July 23, 2015) – The Online Lenders Alliance (OLA) has earned the 2015 American Society of Association Executive’s (ASAE) Power of A Silver Award for its “Look for the OLA Seal” Campaign, aimed at educating consumers on the importance of doing business with companies committed to the strictest best practices and protecting them from […]

    Continue reading
  • Online Lenders Alliance Praises FTC Action Against Lenders That Intentionally Defrauded Consumers

    WASHINGTON, July 8, 2015 — The Online Lenders Alliance (OLA), today praised the Federal Trade Commission’s (FTC) action against a group of online lenders accused of funding loans that consumers never approved then making unauthorized debits from their bank accounts. “Online lenders that defraud consumers should be prosecuted and put out of business,” said Lisa McGreevy, […]

    Continue reading
  • 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 CEO of OLA.  “OLA member […]

    Continue reading
  • 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 hear every week in my […]

    Continue reading
  • OLA Releases Statement on the CFPB’s Small-Dollar Rule Proposal

    Lisa McGreevy, President and CEO of the Online Lenders Alliance (OLA), today issued the following statement in response to the Consumer Financial Protection Bureau’s small-dollar rule proposal: “At a time when consumers are demanding choices for flexible, responsible credit products, we’re very concerned that this initial proposal could severely restrict their options.” The Online Lenders Alliance represents the growing industry […]

    Continue reading
  • H.R. 1264 to amend the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act

    Full text of H.R.1264 to amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to set the rate of pay for employees of the Bureau of Consumer Financial Protection in accordance with the General Schedule. Click here for bill information

    Continue reading
  • H.R. 766 Financial Institution Customer Protection Act of 2015

    Full text of H.R. 766 to provide regulatory relief to community financial institutions, and for other purposes.  

    Continue reading
  • Preserving Innovation and Access to Credit Essential in the CFPB’s Small Dollar Rule

    The following op-ed was published on The Hill website on March 3, 2015: By Lisa McGreevy There has been a revolution in financial technology and in the way consumers expect to conduct their personal business online.  The Internet has democratized communications, banking, and commerce in ways that are changing on a daily basis where the limits of […]

    Continue reading