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  • FDIC RFI on Small Dollar Lending

    Posted on January 31, 2019

    On January 22, 2019, OLA provided comments to the FDIC in response to an Agency RFI on increasing small dollar lending by FDIC regulated institutions. The focus of OLA comments covered the following topics: Bank fintech partnerships and the need to address current legal impediments Impact that a 36% interest rate cap will have Need […]

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  • OLA Provides Comments on Enhanced BCFP Trial Disclosure Program

    Posted on October 23, 2018

    Recently, the newly created Office of Innovation at the Bureau of Consumer Financial Protection (BCFP) announced changes to its “Trial Disclosure Program”. Under Dodd-Frank, the BCFP was given the authority to allow companies the ability to conduct trial disclosure programs and to provide a safe harbor (or waiver) from the corresponding applicable regulatory requirements. The […]

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  • OLA files comment in response to Evidentiary RFI dealing with improving the CID process

    Posted on May 4, 2018

    OLA Files Comment in Response to Evidentiary RFI Dealing with Improving the CID Process At the end of 2017, Acting Director Mulvaney of the Consumer Financial Protection Bureau (CFPB) announced that he would be undertaking a new initiative to ensure that the Bureau’s operations were fulfilling its proper and appropriate functions to best protect consumers. […]

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  • OLA Sends Letter to CFPB Acting Director Mulvaney

    Posted on December 11, 2017

    Today, Online Lenders Alliance President and CEO, Lisa McGreevy, sent a letter to CFPB Acting Director Mulvaney, thanking him for his leadership during this time of transition, and sharing our Fintech Bill of Rights for consideration as he examines reform to the CFPB.  

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  • OLA Responds to CFPB RFI on Use of Alternative Data

    Posted on May 22, 2017

    On May 19th, OLA submitted a comment letter to the CFPB in response to an RFI issued by the agency in February. OLA members have been leaders in the alternative data field, building new and innovative models to assist in broadening the availability of capital to consumers. The letter focused on a broad range of topics […]

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  • OLA Letter to Google regarding AdWords Financial Services Policy

    Posted on April 10, 2017

      Lisa McGreevy, President and CEO of the Online Lenders Alliance (OLA), sent a letter to Google’s Senior VP & General Counsel in regards to the Ad Words Financial Services Policy update in July 2016. OLA and our Members believe that the terms of the policy cause harm by preventing consumers who are legitimately searching […]

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  • OLA Files Comments with CFPB on Consumer Data Access

    Posted on March 6, 2017

    In response to a Request for Information (RFI) by the Consumer Financial Protection Bureau (CFPB) regarding Consumer Access to Financial Records, OLA filed Comments with the CFPB regarding the industry’s views on consumer data and their ability to share that data with third-party organizations. Dodd-Frank Wall Street Reform and Consumer Protection Act Section 1033 outlines […]

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  • OLA Comment Letter on OCC Fintech Charter

    Posted on January 17, 2017

     

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  • OLA Files Comment Letter on Small Dollar Lending Rule to CFPB

    Posted on October 8, 2016

    In June 2016, the Consumer Financial Protection Bureau released its proposed rule regulating the market for payday, vehicle title and similar loans. OLA submitted a letter for the record on October 7, 2016. You can view it by clicking here.

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  • OLA Submits Comment Letter to CFPB Regarding the Report on Online Payday Loan Payments

    Posted on May 19, 2016

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  • OLA Submits Comments to the Treasury Request for Information on Online Marketplace Lending RFI

    Posted on September 30, 2015

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  • OLA Comment Letter on CA PRO 04/08 – CDDTL Report Regulations

    Posted on June 25, 2015

    June 23, 2015   Commissioner Jan Lynn Owen California Department of Business Oversight 1515 K St., Suite 200 Sacramento, CA 95814 RE:     PRO 04/08 – CDDTL Report Regulations Dear Commissioner Owen: The Online Lenders Alliance (OLA) is pleased to submit this response to the California Department of Business Oversight’s (the Department) request for comment related […]

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  • OLA Comment Letter: Prepaid Accounts

    Posted on May 6, 2015

    prepaid comment letter PDF

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  • OLA Letter to Director Cordray on CFPB Rule

    Posted on February 25, 2015

    Read: 02-20-2015 Letter to Director Cordray

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  • OLA Submits Comment Letter to NACHA on Same-Day ACH, Proposed Modifications to the Rules

    Posted on February 6, 2015

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  • OLA Files Letter to Department of Defense Regarding Limitations on Terms of Consumer Credit Extended to Service Members and Dependents

    Posted on December 23, 2014

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  • Proposed Guidance on Deposit Advance Products

    Posted on May 30, 2013

    The Online Lenders Alliance (“OLA”) submitted this comment letter in response to the Proposed Guidance on Deposit Advance Products. For the reasons outlined in the letter, OLA opposes the Proposed Guidance and urges that the Proposed Guidance be withdrawn. Comment Letter to Proposed Guidance on Deposit Advance Products 5-30-2013 PDF

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  • U.S. Court of Appeals Decision on NLRB Appointment

    Posted on May 16, 2013

    The U.S. Court of Appeals for the Third Circuit issued an opinion holding that a purported “recess” appointment to the National Labor Relations Board (NLRB) was invalid and unconstitutional. This decision echoes the earlier decision of the U.S. Court of Appeals for the District of Columbia Circuit in Noel Canning v. NLRB, and holds that […]

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  • Google AdWord Policy Changes

    Posted on February 21, 2013

    Google Proposed Policy Changes-JAN 2012 PDF

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  • Policy to Encourage Trial Disclosure Programs

    Posted on February 19, 2013

    OLA submitted a comment letter responding to the CFPB ‘s Proposed Trial Disclosure Policy.  Although the letter addresses the Proposed Policy and makes recommendations for improvement, the focus is on APR and how APR is an ineffective and misleading measure of the cost of a short-term loan. Comment on CFPB Trial Disclosure Policy 02152013

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