In short, the study does not reflect how legitimate online lenders conduct business today. We do, however, agree with a number of the conclusions in the Pew report, including the need express payday advance & more fraud protection and strong, clear federal guidelines for small-dollar loans.
"OLA and its members abide by a strict set of industry best practices that Pew referenced positively in its study. OLA companies use sophisticated underwriting analytics to ensure customers are willing and able to repay. Defaults arent good for the lender or the consumer.
OLA has a fraud prevention and identification program that works with the FTC to shut down [fraudulent lenders].
All product and service options subject to change without notice. Line of Credit: Available at Allied Cash Advance locations in Virginia only. Approval depends upon meeting legal, regulatory and underwriting requirements. Allied Cash Advance may, at their discretion, verify application information by using national databases that may provide information from express payday advance & or more national credit bureaus, and Allied Cash Advance or third party lenders may take that into consideration in the approval process.
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