• 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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  • New Legislation Reaffirms Longstanding Legal Precedent, Increases Access to Credit for Small Businesses and Consumers

    New Legislation Reaffirms Longstanding Legal Precedent, Increases Access to Credit for Small Businesses and Consumers WASHINGTON, DC – Lisa McGreevy, President and CEO of the Online Lenders Alliance today released the following statement in response to recent legislation passed in the U.S. House of Representatives (HR 3299, Protecting Consumers’ Access to Credit Act of 2017) […]

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  • OLA Support Letter of H.R. 3299 – “Valid When Made” Legislation

    The  Online Lenders Alliance wrote a letter to Speaker Ryan and Minority Leader Pelosi to express support for H.R. 3299, the Protecting Consumers’ Access to Credit Act introduced by Representatives Patrick McHenry and Greg Meeks, which is scheduled for consideration before the House this week.

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  • Online Lenders Alliance Statement on New Small Dollar Rulemaking

    WASHINGTON, DC – January 16, 2018 – Online Lenders Alliance president and CEO Lisa McGreevy today issued the following statement: “We have always supported sensible regulations that protect access to credit and put consumers first.  We look forward to working with the CFPB to create a rule that accommodates innovation that leads to better options […]

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  • Morning Consult: CFPB Needs a Professional 21st Century Regulator

    Morning Consult: CFPB Needs a Professional 21st Century Regulator By: Lisa McGreevy, president and CEO of OLA We expect President Donald Trump to announce the appointment of a new leader of the Consumer Financial Protection Bureau in the coming weeks. After years of being driven by partisan politics and political agendas, the CFPB now has […]

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  • Now is the time for a professional regulator to lead the Consumer Financial Protection Bureau

    The CFPB needs a professional regulator to take over at the agency.  Many can debate whether or not there should be a CFPB, but until such time as Congress passes legislation to abolish the agency, we need the best possible professional and modern agency.

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  • Online Lenders Alliance Applauds Bipartisan Passage of H.R. 2706, The Financial Institutions Consumer Protection Act of 2017, by the House of Representatives

    Online Lenders Alliance Applauds Bipartisan Passage of H.R. 2706, The Financial Institutions Consumer Protection Act of 2017, by the House of Representatives  Legislation to End Operation Choke Point. WASHINGTON, DC, December 11, 2017 – By a vote of 395 to 2, the House of Representatives today passed H.R. 2706, The Financial Institutions Consumer Protection Act […]

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