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 for consumers; allows flexibility to determine ability to repay based on the risk presented by a consumer; and ensures access to credit.”

Contact: Michael Day, 703 567-0327 or mday@oladc.org

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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 Code of Conduct to ensure their customers are fully informed and fairly treated.

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