• OLA Responds to CFPB RFI Regarding the Bureau’s Adopted Regulations and New Rule Making Authorities

    The Online Lenders Alliance submitted a response to the Bureau of Consumer Financial Protection’s Request for Information Regarding the Bureau’s Adopted Regulations and New Rule Making Authorities. This letter addresses the Bureau’s final rule on Prepaid Accounts Under the Electronic Fund Transfer Act and the Truth in Lending Act, and covers two specific concerns. First, […]

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  • Leading Fintech Association Pledges to Work for Regulatory System that Enhances Credit Access through Technology; Asks Senate to Confirm BCFP Nominee

    WASHINGTON, DC, June 18, 2018 – Following President Donald J. Trump’s nomination of Kathy Kraninger to lead the Bureau of Consumer Financial Protection (BCFP), Mary Jackson, CEO of the Online Lenders Alliance (OLA) released the following statement: “We support the President’s nominee for the BCFP and ask the Senate to confirm her.  Fintech is delivering a […]

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  • Fintech Industry’s Largest Association for Online Lending Names Mary Jackson as New CEO

    Fintech Industry’s Largest Association for Online Lending Names Mary Jackson as New CEO WASHINGTON, DC, June 11, 2018 – The Online Lenders Alliance (OLA) today announced that Mary Jackson has been named Chief Executive Officer for the organization, effective June 11, 2018. Jackson will succeed Lisa McGreevy, who will serve in a new role as […]

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  • Western Union Claim Deadline is May 31

    Western Union Claim Deadline Is May 31 Important reminder: Consumers may be entitled to a refund if they were tricked into using Western Union to pay for prizes, loans, jobs, products and rewards that never materialized. The deadline to file a claim is May 31, 2018. The Federal Trade Commission is working to get the word […]

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  • Consumer Tip: Look Out for Imposter Scams

    Consumer Tip: Look Out for Imposter Scams Imposter scams are one of the fastest-growing types of fraud. These scams come in many varieties, but they work basically the same way.  Someone calls you, pretending to be a trustworthy person. Their goal is not to help you, but to gain your trust and get you to […]

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  • Federal Trade Commission Raises Alarm About “Secret Shopper” Scam

    The Federal Trade Commission keeps a close eye on scams aimed at deceiving consumers. On May 16, 2018, the law enforcement agency’s website posted an update about a “secret shopper” scam that the FTC is seeing more often: “Scammers need a good story to get to your wallet. Once they find one that works, they […]

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  • Eight Ways to Measure Financial Wellness

    Anyone who’s ever struggled financially knows how worry can eat away at your confidence and productivity.  Shifting your focus to positive financial outcomes and understanding how to achieve them isn’t easy. But you can resolve to improve your financial wellness. What is financial wellness? It means that your day-to-day financial systems work well for you. […]

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  • All About Wellness: A Financial Literacy Month Journey

    Did you know that your financial and physical health go hand in hand? It makes sense instinctively, and there’s a growing body of research to back it up. According to one study, one out of every five workers believes their current financial problems are negatively impacting their life. Getting control over your money can reduce […]

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  • Are You Being Treated Right?

    “Treat people fairly and with respect.” Those six simple words summarize the promise made by members of the Online Lenders Alliance to our customers. We believe you have a right to be treated fairly and with respect when you seek an online loan, expect our members adhere to this crystal-clear code of conduct. Most of […]

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  • Borrowing with Confidence & Protecting Yourself When Shopping for an Online Loan

    Obtaining a personal loan online can be a quick and convenient option when you need credit. With online loans, you can complete your application and sign your loan documents from your computer or even your phone. The loan proceeds can be deposited directly into your account, usually by the next business day. But once you […]

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  • OLA Provides Comments to Treasury Department in Advance of Fintech Report

    OLA Provides Comments to Treasury Department in Advance of Fintech Report As a follow up to a meeting with Senior Treasury Department staff regarding an upcoming report that will include a review of issues facing the fintech community, OLA has provided comments to the Department. Covered in the letter was the need for a national […]

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  • Western Union Refund Alert

    Western Union Refund Alert Consumers may be entitled to a refund if they were tricked into using Western Union to pay for prizes, loans, jobs, products and rewards that never materialized. Step-by-step details are available via the Federal Trade Commission website. The deadline to file a claim is May 31, 2018. Anyone who sent money […]

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  • OLA Says CFPB Should Transform Project Catalyst Into Innovation Hub With Real Safe Harbor

    OLA Says CFPB Should Transform Project Catalyst Into Innovation Hub With Real Safe Harbor Lisa McGreevy, President and CEO of OLA Pens Op-ed for American Banker In an American Banker op-ed this morning the Online Lenders Alliance (OLA) called for a transformation of the Bureau’s Project Catalyst, which OLA believes has been a missed opportunity for faster […]

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  • Know who to contact if you think you’re being harassed by illegitimate debt collectors

    Recently, the Federal Trade Commission shut down a company that was calling consumers and threatening them over debt that had already been paid back. If you think that you’re being harassed by debt collectors over money that you don’t owe, immediately contact the Federal Trade Commission to report the company, report it to the OLA Consumer […]

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  • Get Credit Counseling Help

    If you find yourself in a situation where you cannot afford your loan payments, get help. There are several organizations that can help you with your credit concerns. The U.S. Department of Justice lists approved credit counseling services by state and judicial district.

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  • Suspicious Email?  Anyone Can Help Detect Fraud

    Suspicious Email?  Anyone Can Help Detect Fraud Email is a vital tool in our everyday lives. Unfortunately, it has also become a method of choice for financial criminals to conduct scams and fraud against consumers. Trust your gut if you get an email that seems fishy, and don’t take the bait. Legitimate financial providers will never […]

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  • Consumer Tips When Considering an Online Loan

    Never borrow more than you can afford Sometimes the unavoidable occurs, car repairs, an unexpected illness, or other emergencies, that take a bite out of our budget. If you’re in a position where you find yourself in need of a short-term loan, find out exactly what you will be required to pay back, when your […]

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  • Spring Is Arriving – and So Are Tax Refund Scams

    Spring is peak season for filing tax returns—and unfortunately that means it’s tax scam season, too. To protect the public, the Internal Revenue Service is warning taxpayers to watch out for refund scams and fake calls requesting personal or financial information. This tax season, the IRS is spreading the word about a growing and elaborate […]

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  • OLA Outlines Reforms to Project Catalyst

    On February 15, OLA attended an industry roundtable, alongside 25 other trade associations, hosted by CFPB Acting Director Mulvaney. OLA has sent a follow-up letter outlining some recommended reforms to Project Catalyst. Those include: Improved regulatory flexibility Greater use of wavier True “No-Action” letter Greater use of guidance documents Utilizing statements of enforcement policy to […]

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