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Statement from Online Lenders Alliance Following House Committee on Financial Services Hearing
Following today’s House Financial Services Committee (HFSC) hearing titled, “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and Interest Rate Caps,” OLA CEO Mary Jackson issued the following statement: “Today’s hearing clearly demonstrates that many members of the House Financial Services Committee have more work
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Statement from Online Lenders Alliance ahead of House Committee on Financial Services Hearing
Ahead of today’s House Financial Services Committee (HFSC) hearing titled, “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and Interest Rate Caps,” OLA CEO Mary Jackson issued the following statement: “Partnerships between banks and fintech companies are not only legal and already regulated, but also
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Morning Consult: Data Proves Fintech Drives Inclusion
For decades, federal regulators and policy makers have grappled with how to foster credit inclusion to the financially underserved. Many programs were developed with little success. The Federal Deposit Insurance Corporation launched a now-defunct small dollar loan program in 2008 with marginal results. A few years later, the National Credit Union Administration
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