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 against this phantom debt collector who fraudulently tried to collect fake debts from consumers. OLA member companies abide by a list of Best Practices that includes strict rules regarding debt collection that go well above the federal Fair Debt Collection Practices Act to ensure consumers are treated fairly,” McGreevy said.

 The FTC alleges that the defendants contacted consumers and attempted to collect debts that the consumers did not owe, or that the defendants did not have authority to collect.

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 The Online Lenders Alliance is a professional trade organization representing the growing industry of companies offering consumers small, short-term loans online. OLA member companies abide by a list of Best Practices and Code of Conduct to ensure that customers are fully informed and fairly treated.

Contact:

Peter Barden
M: 917.763.7352
pbarden@oladc.org

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