People think online lenders discriminate less against job applicants because of their race or ethnicity, new survey data shows

ARLINGTON, Va., July 20, 2021 /PRNewswire/ — According to new data from a survey conducted by Morning Consult on behalf of the Online Lenders Alliance (OLA), Black and Hispanic adults are significantly less confident than other adults in their ability to obtain credit from traditional financial institutions. As a result, many are hesitant even to apply for credit. However, these same consumers believe that online lenders discriminate less against applicants based on race or ethnicity than other lenders.

The study surveyed 2,200 adults from June 17-19 and asked a series of questions focused on their experiences, feelings and activity in the financial markets.

“According to this new survey data, less than half of black and Hispanic adults feel confident in their ability to get the credit they need in 2021,” said Andre Duke, Executive Director of the Alliance of Online Lenders. “Many others have been unable to access credit, which can lead to worse outcomes, including late fees or missed payments, the pawning of valuables, or even eviction from their homes. “

“Online lending is not only an essential option for millions of consumers, they believe they are less discriminated against with online lenders than with other lenders,” Duke continued. “One of OLA’s core beliefs is that all Americans deserve access to credit without fear of discrimination.”

The survey found that less than half of all Americans (49%) feel confident in their ability to get the credit they need if they apply in 2021. However, when broken down by race/origin ethnicity, only 44% of black adults and 42% of Hispanics are confident in their ability to obtain credit. It also found that almost a third (31%) of all adults, including half of all African Americans (50%) were denied credit when they needed it.

Additionally, while 27% of all Americans said they were hesitant to apply for credit due to concerns about discrimination, 40% of African Americans reported these concerns. All adults (but especially African Americans) felt that online lenders discriminated less against job applicants.

Finally, 61% of respondents who had taken out a loan online and had an opinion said their credit score had improved. More than two-thirds (68%) of black adults have seen their credit scores improve.

About the Alliance of Online Lenders

The Online Lenders Alliance (OLA) is the first professional association in FinTech. OLA is focused on credit inclusion, bringing together a diverse group of innovative companies who share a common goal: to serve hard-working Americans who deserve access to trustworthy credit. Our members are entrepreneurs, publicly traded companies, lenders, credit bureaus, advertisers, lead generators, compliance professionals and software developers who leverage technology to responsibly improve the financial health of consumers. Consumer protection is our top priority and OLA members adhere to a rigorous set of best practices and a code of conduct to ensure consumers are fully informed and treated fairly. For more information, please visit

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