ARLINGTON, VA (April 25, 2022)—Rate cap proponents have been misleadingly touting Illinois’ 36% rate cap law as a success story, implying that its enactment has…
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Media Resources
-Most Short-Term, Small-Dollar Loan Users Report They Have Struggled to Pay Bills or Access Credit Since Rate Cap Took Effect- ARLINGTON, Va. (February 23, 2022)—A…
ARLINGTON, Va. (February 16, 2022)—After the New Mexico Legislature passed H.B. 132, legislation that would eliminate credit options for hundreds of thousands of New Mexico…
The New Mexico House of Representatives passed HB.132 – a bill that will eliminate access to credit for hundreds of thousands of New Mexicans by implementing a 36% annual percentage rate cap on small-dollar consumer…
Online Lenders Alliance Members Must Adhere to Robust Best Practices Designed to Provide Access to Short-Term Credit While Ensuring Consumer Protection- ARLINGTON, Va. (December 16,…
OLA In the News
A federal judge in Chicago moved to shut businesses that allegedly used illegally obtained personal financial data to make threatening debt collection calls from India to thousands of consumers who didn’t owe them money.
(CHICAGO) (WLS) — The Federal Trade Commission warns consumers about what they call fraudulent debt collectors.
The agency says the companies included in a new lawsuit prey on people who have used online payday loan services. The lawsuit was filed against two companies and one individual. Officials say they used threats and scare tactics to get people to make payments they do not really owe.
A phone scam in which callers in India posed as debt collectors bilked millions of dollars out of more than 10,000 U.S. residents by using threats of arrest or the loss of their jobs, U.S. authorities said Tuesday in what they described as a first-of-its-kind investigation.
The following op-ed was posted on the American Banker website on January 25, 2012. CFPB Must Work with Legit Online Lenders, Stop Outlaws By Lisa…
