OLA State Affairs
The OLA State Program works proactively to advocate for proactive involvement with state
legislatures and state attorneys general. OLA effectively engages with a number of states and
has increased the network of elected officials that understand the need to protect online
short-term lending.
OLA emphasizes building relationships with attorneys general across the country due to the increased
role they play in enforcing regulation and the formation of the Consumer Financial Protection Bureau.
To further that goal, OLA joined the Republican Attorneys General Association, the Democratic
Attorneys General Association and the Conference of Western Attorneys General, and participates
in several events throughout the year on behalf of the online short-term lending industry.
-
Statement from OLA following the signing of AB 539 by the California State Assembly
Following the signing of AB 539 by the California General Assembly on Thursday night, Online Lenders Alliance issued the following statement: “With the stroke of a pen, California has created uncertainty and hardships for those in the state who need credit access the most, who are facing unexpected emergencies, or who are looking to consolidate […]
Continue reading -
OLA Opposes California AB 784 Limiting Consumer Credit Options
The Online Lenders Alliance sent a letter to Members of the California Assembly Apparitions Committee expressing strong opposition to AB 784. This legislation seeks to impose an interest rate cap for consumer loans between $300 and $5,000, greatly limiting an important source of funds for millions of underbanked consumers in California. If enacted, AB 784 […]
Continue reading -
OLA Submits Testimony To California Hearing On “The State Of Consumer Lending”
California Senate Assembly Banking and Finance Committee “The State of Consumer Lending in California” Statement of Lisa McGreevy President & CEO Online Lenders Alliance The Online Lenders Alliance (OLA) represents the growing industry of companies offering online consumer loans and related products and services. OLA members include online lenders and vendors and service providers to […]
Continue reading -
OLA Submits Comment Letter To CFPB Regarding Small Dollar Lending Rule
In March 2015, the Consumer Financial Protection Bureau announced its intention to make rules regulating the market for payday, vehicle title and similar loans. OLA submitted a letter for the record. You can view it by clicking here.
Continue reading -
Mississippi Short-term Lending Rule
Final rule issued by the Mississippi Banking and Consumer Finance Department (November 2012). The rule updates and clarifies the changes to the payday statute that was amended in 2011. MS Final Payday Rule-_Nov2012 PDF
Continue reading -
-
Scope of Proposed Rule on Short-term Lending in WI
Proposed Order of the WI Dept of Financial Institutions
Continue reading -
Nevada Revised Proposed Regulation
Read official documentation here: 4-2010-04-07_LCB_R_130-08RP1_NAC_604A PDF
Continue reading