WASHINGTON, DC, June 18, 2018 – Following President Donald J. Trump’s nomination of Kathy Kraninger to lead the Bureau of Consumer Financial Protection (BCFP), the Online Lenders Alliance (OLA) released the following statement:
“We support the President’s nominee for the BCFP and ask the Senate to confirm her. Fintech is delivering a host of convenient, affordable and private credit options for qualified Americans, and we look forward to working with the new director on strong and clear rules to allow that innovation to continue. People need and deserve access to reliable credit, and we are committed to a regulatory system that preserves that opportunity.”
The Online Lenders Alliance (OLA) is the first trade association in Fintech and the center for lending, technology and innovation, representing the growing industry of companies offering loans online. OLA’s membership includes entrepreneurs, publicly-traded companies, fraud prevention experts, privacy protectors, lenders, alternative credit bureaus, and software developers. OLA members abide by a rigorous set of Best Practices and Code of Conduct to ensure their customers are fully informed and fairly treated.