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Federal Policy PressPress Release

Online Lenders Alliance Statement on Supreme Court’s CFPB Ruling

By May 16, 2024No Comments

ARLINGTON, Va. (May 16, 2024)—After the U.S. Supreme Court reversed a lower court’s ruling that the Consumer Financial Protection Bureau’s (CFPB) funding violated the Constitution, Online Lenders Alliance CEO Andrew Duke issued the following statement:

“The Online Lenders Alliance’s position has long been that we support clear laws and regulations that protect consumers and hold companies accountable. However, no federal agency should be insulated from proper oversight, accountability and checks on its actions. While the Court has issued a ruling on an important question surrounding the CFPB’s funding, we still believe there are opportunities for Congress to enact commonsense accountability measures that will ultimately benefit American consumers ”