Statement from CEO of Online Lenders Alliance

Statement from Lisa McGreevy, President and CEO of the Online Lenders Alliance, in reaction to the report issued by the House Oversight and Government Reform Committee regarding the Department of Justice's "Operation Choke Point":

"The report confirms what we've known all along--DOJ and other government regulators were engaged in a coordinated effort to eliminate the online lending industry and choke off consumer access to the short-term credit millions of Americans need. Now other industries are seeing the impact of a government willing to circumvent the law to shut down legal businesses they don't like. Congress and the American public should be outraged."

The Online Lenders Alliance is a professional trade organization representing the industry of companies offering consumers small, short-term loans online. OLA member companies abide by a list of Best Practices and Code of Conduct to ensure that customers are fully informed and fairly treated. Contact: Peter A. Barden M: 917.763.7352 pbarden@oladc.org