News
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Statement from Online Lenders Alliance CEO Mary Jackson on Walmart’s Fintech Startup
“The Online Lenders Alliance has long held the position that increased competition in the financial services marketplace benefits consumers by spurring innovation, increasing access, and lowering costs. To that end, even though it is unclear what products Walmart will be offering, we welcome them and wish them success. It is
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OLA Sends Letter in Opposition to IL Rate Cap Legislation
Today, the Online Lenders Alliance sent a letter to Illinois Governor J.B. Pritzker to express concerns with Senate Bill 1792 and urge a veto on the bill. This bill creates the Predatory Loan Prevention Act and would establish a 36 percent rate cap and a Predominant Economic Interest (PEI) test.
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Statement from Online Lenders Alliance CEO Mary Jackson on OCC’s “Fair Access” Rule
After the OCC finalized a rule requiring large banks to provide fair access to bank services, capital, and credit, Online Lenders Alliance CEO Mary Jackson issued the following statement: “This final rule is an important step and one that is critically needed to ensure that banks treat all customers fairly
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