Lender Best Practices
Online Lender

OLA Best Practices

  • Ensure consumers are making educated decisions by fully disclosing all loan terms in a transparent and easy to understand way.

  • Give consumers a chance to change their mind by maintaining a reasonable cancellation policy.

  • Be a company in good standing with the officials and regulatory bodies that govern you.  Comply with all applicable laws and regulations.

  • Protect every consumerís personal data with comprehensive website security and a privacy policy.

  • Help consumers help themselves by providing referrals to credit counseling, education and assistance where appropriate.

  • Follow all Truth in Lending Practices.

  • Provide comprehensive website security and fraud prevention practices that include timely and accurate reports on loan activity, consumer notification of account use, and validation of routing numbers.  (See Payments Best Practices).

  • Always treat consumers with respect and use fair, professional and non-abusive collection practices. Never use unlawful threats, intimidation, or harassment to collect accounts. (See Collections Best Practices).

OLA Code of Conduct

Treat people fairly and with respect

Online Lenders