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State Policy Resources

OLA works in states on both a proactive and reactive basis, supporting legislation favorable to more financial options for consumers through online lending and combatting legislation that would eliminate credit access or negatively impact OLA members’ ability to serve their customers. OLA also maintains active engagement in a number of state trade groups.

State Policy Resources

November 14, 2023

A New Mexico Consumer Survey: Understanding the Impact of the 2023 Rate Cap on Consumers

July 25, 2023

An Illinois Consumer Survey: Understanding the Impact of the 2021 Rate Cap on Consumers (Updated July 25, 2023)

February 23, 2022

An Illinois Consumer Survey: Understanding the Impact of the 2021 Rate Cap on Consumers

Press Releases

Mar 27

Love0

Only 43 Percent of Installment Loan Licenses Remain in Illinois After Statewide Rate Cap Took Effect, As Numbers Continue to Drop Year-over-Year

By OLA Comms Press Release, State Policy Press

-Number of Installment Lender Licenses Experienced Another Sharp Decline, Falling 13.4 Percent in the Past Year- ARLINGTON, Va. (March 27, 2025)—Four years after Illinois implemented…

Mar 25

Love0

Online Lenders Alliance Statement on Virginia Governor Glenn Youngkin’s Veto of Rate Cap Legislation

By OLA Comms Press Release, State Policy Press

ARLINGTON, Va. (March 25, 2025)—After Virginia Governor Glenn Youngkin vetoed SB 1252, legislation that would severely restrict access to credit and financial products in Virginia,…

Jun 20

Love1

Online Lenders Alliance Applauds Court Decision Stopping Colorado’s DIDMCA Opt-Out: Temporary Legal Relief Should Be Made Permanent to Protect Consumers’ Credit Access

By OLA Comms Press Release, State Policy Press

ARLINGTON, Va. (June 20, 2024)—After a federal judge temporarily stopped Colorado from opting out of the 1980 Depository Institutions Deregulation and Monetary Control Act (DIDMCA)…

Mar 21

Love2

Three Years Into Illinois Rate Cap, Lender Licenses Are Down 64 Percent, Highlighting How Rate Cap Has Significantly Diminished Consumers’ Access to Credit

By OLA Comms Press Release, Research Press, State Policy Press

-Total Licenses Dropped From 1426 in 2021 to Only 512 Today, Leaving Cash-Strapped Consumers With Fewer Options Than Before Rate Cap’s Implementation- ARLINGTON, Va. (March…

Jan 17

Love2

Latest Woodstock Institute “Study” Seeks to Hide the Harsh Reality of the Illinois Rate Cap’s Impact on Consumers: Less Access to Credit for Those Who Need it Most

By OLA Comms Press Release, State Policy Press No Comments

ARLINGTON, Va. (January 16, 2024)—Responding to the latest Woodstock Institute report on the impact of Illinois’ 36 percent rate cap on consumers in the state,…

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Comment Letters

Sep 20

Love1

OLA California Comments on Department of Financial Protection and Innovation’s (DFPI) proposal to amend the Pilot Program for Increased Access to Responsible Small Dollar Loans (PRO 04-21).

By Communications Comment Letters - State No Comments

The Online Lenders Alliance (OLA) represents the online lending industry and companies that provide services to online lenders. We appreciate the invitation to provide comments…

Sep 17

Love1

OLA Comments on California Consumer Financial Protection Law (“CCFPL”): Commercial Financing to Small Businesses, Nonprofits, and Family Farms (“PRO 02-21”)

By Communications Comment Letters - State No Comments

The Online Lenders Alliance (OLA) represents the online lending industry and companies that provide services to those online lenders. We appreciate the invitation to provide…

Sep 17

Love1

OLA Comments on rulemaking under the California Consumer Financial Protection Law: Consumer Complaints (PRO 03-21).

By Communications Comment Letters - State No Comments

The Online Lenders Alliance (OLA) represents the online lending industry and companies that provide services to those online lenders. We appreciate the invitation to provide…

Jun 07

Love1

Comments on Proposed Rulemaking Under the California Debt Collection Licensing Act (“PRO 02/20 TEXT: DEBT COLLECTION”)

By Communications Comment Letters - State No Comments

OLA submits this letter as a comment to the proposal to adopt new regulations (Proposal) under the Debt Collection Licensing Act (DCLA) issued by the…

Mar 08

Love1

OLA Comments on California Consumer Financial Protection Law (CCFPL) under Division 24 of the Financial Code

By Communications Comment Letters - State No Comments

OLA comments on forthcoming regulations to implement the California Consumer Financial Protection Law (CCFPL) under Division 24 of the Financial Code. Read the full comment…

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State Policy Resources