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Press Release

OLA Applauds FTC’s Action Against Phony Debt Collection Companies

By October 24, 2013No Comments

Posted by: Jeff Brownlee

October 24, 2013 (Washington, D.C.) – Lisa McGreevy, President & CEO of the Online Lenders Alliance (OLA) today issued the following statement applauding the Federal Trade Commission (FTC) for its action against fraudulent debt collection companies who were illegally targeting consumers.

“We commend the FTC today for their action against phantom debt collection companies attempting to fraudulently collect debt from consumers,” said Lisa McGreevy, President and CEO of the Online Lenders Alliance.  “It’s inexcusable that these bad actors took advantage of consumers by threatening legal action and illegally collecting private information.  We wholeheartedly support the FTC in their actions and believe that scammers such as these should be severely punished. ”

You can read the FTC release here.


The Online Lenders Alliance is a professional trade organization representing the growing industry of companies offering consumers small, short-term loans online. OLA member companies abide by a list of Best Practices and Code of Conduct to ensure that customers are fully informed and fairly treated.
Peter Barden
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