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OLA in the News

The Center Square: Nonprofit Lauds Impact of Illinois’ Predatory Loan Prevention Act

By January 23, 2024May 9th, 2024No Comments

The Online Lenders Alliance criticized both the report and the Woodstock Institute.

“Since Illinois’ 36% APR cap was signed into law, data and research show that many consumers in that state have suffered from less credit access and being forced into worse options and outcomes because they cannot make ends meet,” said Andrew Duke, CEO of the Online Lenders Alliance in a statement. “The Woodstock Institute has once again issued a report with incomplete and cherry-picked data to take an unearned victory lap on this law.”

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