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So they really shouldnt even be offered. If you have a personal story about borrowing money online, The Huffington Post wants to hear from you. Contact Hunter Stuart at hunterhuffingtonpost.
com or 212-402-7149. Update, January 21, 2015: Lisa McGreevy, CEO of the Online Lenders Alliance, emailed HuffPost an extensive response to this article. She reiterated the stance of the OLA representative in the story, that state laws about online lending are unclear and that most online lenders don't operate in states "where jurisdiction is in question.
" Among her other points: "The article relies heavily on a Pew Charitable Trust study regarding online and storefront lending that is based on research conducted in 2011, which preceded changes by many online lenders in response to industry guidance from the FTC. In short, the study does not reflect how legitimate online lenders conduct business today.
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