Online Lenders Alliance Commends FTC for Taking Action Against Discount Club Scam

WASHINGTON, D.C. – Today, the Online Lenders Alliance commended the FTC for charging a group of marketers led by EDebitPay and Saving Pays Club that bilked consumers out of millions of dollars for services they did not authorize. 

The problem stems from the defendants targeting consumers by enrolling them in online discount clubs without authorization and providing coupons while charging a monthly fee. Lisa McGreevy, President and CEO for the Online Lenders Alliance commended the FTC’s action stating:

“It is shocking to me and members of OLA that this company intentionally set out to dupe and prey on consumers. OLA and its members strongly condemn these practices. Many of the individuals involved have had multiple actions taken against them by the FTC for using similar shopping club schemes. We commend the FTC and believe the perpetrators involved should be prosecuted to the fullest extent of the law.”

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The Online Lenders Alliance (OLA) is the center for lending, technology and innovation, representing the growing industry of companies offering loans online. OLA members abide by a rigorous set of Best Practices and a Code of Conduct to ensure their customers are fully informed and fairly treated.
Contact Michael Day at (703)567-0327 or mday@oladc.org

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