News
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OLA Statement Following Senate Vote on True Lender
After the U.S. Senate voted to overturn the OCC’s True Lender Rule under the Congressional Review Act, Online Lenders Alliance Executive Director Andrew Duke issued the following statement: “We are disappointed that the Senate has voted to overturn the True Lender rule, a commonsense standard clarifying the “true lender” of
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OLA Reacts to Senate Banking Hearing
Today, the Senate Banking Committee hosted a hearing titled, “The Reemergence of Rent-a-Bank?” Online Lenders Alliance (OLA) Executive Director Andrew Duke issued the following statement after the hearing: “The Online Lenders Alliance believes that all borrowers—including those with modest income and lower credit scores—should have more options for credit access and financial
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OLA Reacts to Former Acting Comptroller of the Currency Brian Brook’s Testimony During House Financial Services Committee Hearing
Today, the House Financial Services Subcommittee on Consumer Protection & Financial Institutions hosted a hearing titled, “Banking Innovation or Regulatory Evasion? Exploring Trends in Financial Institution Charters.” During today’s hearing, former Acting Comptroller of the Currency Brian Brooks was asked about the OCC rule on True Lender and the congressional
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