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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)

June 27, 2023

Summary of US State Laws

February 23, 2022

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

Press Releases

Mar 21

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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

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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,…

Jan 04

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New Data Shows One Year After New Mexico Implemented Its Rate Cap, Credit Options Are Sharply Lower

By OLA Comms Press Release, Research Press, State Policy Press No Comments

ARLINGTON, Va. (January 4, 2024)—Data from the New Mexico Regulation and Licensing Department (NMRLD) collected and analyzed by the Online Lenders Alliance shows that within…

Nov 14

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Online Lenders Alliance Releases Results of New Mexico Consumer Survey Finding Rate Cap is Leaving Former Short-Term, Small-Dollar Loan Users Struggling to Pay Bills and Access Credit

By OLA Comms Press Release, Research Press, State Policy Press No Comments

-Rate Cap is Failing the Financial Wellbeing of New Mexico Consumers Since Taking Effect January 1, 2023- ARLINGTON, Va. (November 14, 2023)—In the wake of…

Jun 20

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New Report Offers Further Evidence About Consumers’ Inability to Access Small Dollar Credit from Banks and Credit Unions

By OLA Staff Federal Policy Press, Press Release, State Policy Press No Comments

-Southwest Public Policy Institute Investigation Plainly Refutes False Claims that Credit Unions’ Small Dollar Loan Products Will Meet the Needs of Most Consumers- ARLINGTON,…

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Comment Letters

Sep 20

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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

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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

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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

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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

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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