News - Online Lenders Alliance

OLA in the News

American Banker: Colorado’s New Law on High-Cost Lending May Be a Model for Other States

The Online Lenders Alliance, a trade group that represents high-cost lenders, cautioned other states against following Colorado's lead, saying that the new law will be…

OLA CommsJune 7, 2023

OLA in the News

The Legislator Magazine: Financial Technology Helps Consumers Living Paycheck to Paycheck

Online Lenders Alliance Executive Director Andrew Duke authored an article for the Summer 2023 edition of The Legislator Magazine entitled "Financial Technology Helps Consumers Living…

OLA CommsJune 1, 2023

OLA in the News

American Banker: Banks Now Offer Payday-Loan Alternatives. How Many People Use Them?

A new survey — conducted by the Online Lenders Alliance, a trade group whose members offer payday loans and expensive installment loans — finds that…

OLA CommsMay 21, 2023

Federal Policy Press Press Release Research Press

New Online Lenders Alliance Survey Data Finds Many Customers of the Six Largest Banks Offering Small Dollar Loans Continue to Rely on Alternative Lenders to Help Meet Credit Needs

-Nearly Three out of Every Ten Consumers who Recently Used a Small Dollar Online Installment Lending Product were Customers of the Six Banks Touted as…

OLA StaffMay 17, 2023

Comment Letters

Targeting and Eliminating Unlawful Text Messages CG Docket Nos. 02–278, 21–402/ FCC 23– 21; FR ID 134449

OLA filed comments to the FCC regarding the Proposed Rule "Targeting and Eliminating Unlawful Text Messages."

OLA CommsMay 8, 2023

Federal Policy Press Press Release

Online Lenders Alliance: Despite Recent Assertions to the Contrary, the Number of Small Dollar Loans by Credit Unions Has Declined Since 2019, Leaving Many Consumers with Fewer Credit Options

ARLINGTON, Va. (April 17, 2023)—In response to the latest article from the Pew Charitable Trusts’ Consumer Finance Team (“Credit Union Small-Dollar Loan Volume Hit New…

OLA StaffApril 17, 2023

Comment Letters

Registry of Supervised Nonbanks that Use Form Contracts to Impose Terms and Conditions that Seek to Waive or Limit Consumer Legal Protections (Docket No. CFPB-2023-0002/ RIN 3170-AB14)

The Online Lenders Alliance submitted comments to the Consumer Financial Protection Bureau (CFPB)'s Proposed rule to establish a system for the registration of nonbanks subject…

OLA CommsApril 3, 2023

Comment Letters

Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Docket Number CFPB-2022-oo8

OLA filed comments to the Consumer Financial Protection Bureau regarding its Proposed Rule to establish and maintain a registry that would collect information about certain…

OLA CommsMarch 31, 2023

Press Release Research Press State Policy Press

New FOIA Data Confirms That Credit Access in Illinois Remains Significantly Diminished, Leaving Consumers With Fewer Options Two Years After Illinois Implemented 36% Rate Cap

-Small Dollar Lending Licenses Have Dropped By Nearly 60% Since March 23, 2021- ARLINGTON, Va. (March 22, 2023)—On the second anniversary of Illinois Governor…

OLA StaffMarch 22, 2023

Online Lenders Alliance News

American Banker: Colorado’s New Law on High-Cost Lending May Be a Model for Other States

The Legislator Magazine: Financial Technology Helps Consumers Living Paycheck to Paycheck

American Banker: Banks Now Offer Payday-Loan Alternatives. How Many People Use Them?

New Online Lenders Alliance Survey Data Finds Many Customers of the Six Largest Banks Offering Small Dollar Loans Continue to Rely on Alternative Lenders to Help Meet Credit Needs

Targeting and Eliminating Unlawful Text Messages CG Docket Nos. 02–278, 21–402/ FCC 23– 21; FR ID 134449

Online Lenders Alliance: Despite Recent Assertions to the Contrary, the Number of Small Dollar Loans by Credit Unions Has Declined Since 2019, Leaving Many Consumers with Fewer Credit Options

Registry of Supervised Nonbanks that Use Form Contracts to Impose Terms and Conditions that Seek to Waive or Limit Consumer Legal Protections (Docket No. CFPB-2023-0002/ RIN 3170-AB14)

Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Docket Number CFPB-2022-oo8

New FOIA Data Confirms That Credit Access in Illinois Remains Significantly Diminished, Leaving Consumers With Fewer Options Two Years After Illinois Implemented 36% Rate Cap

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