Umeta Credit Lending Corp. is no longer allowed to operate its lending apps after the Securities and Exchange Commission (SEC) ordered it to immediately stop all lending activities to protect borrowers and tighten oversight of online lenders.

Citing a cease and desist order dated 18 February, the regulator said its Financing and Lending Companies Department directed Umeta, its owners, incorporators, agents, promoters and all persons acting on its behalf to cease engaging in or facilitating any lending activity, whether directly or indirectly.

The prohibition covers the operation and promotion of its online lending platforms (OLPs), including FinLedger — Smart Ledger, Cash Twig, Meta Cash and MorePautang — Loan Hub, as well as any other platform operated under different names.

The shutdown means borrowers will no longer be able to access loans through these apps while the regulator resolves the case, as the SEC seeks to stop alleged abusive collection practices and prevent further risks to consumers.

The SEC said its verification found that Umeta engaged in the unauthorized operation of undisclosed OLPs in violation of Memorandum Circular No. 19, Series of 2019, which requires lending firms to fully disclose and report the platforms they operate.

The company was also found to have violated Memorandum Circular No. 10, Series of 2021, which imposed a moratorium on new OLPs starting 5 November 2021.

“[Umeta Credit Lending’s] decision to deploy and maintain multiple OLPs, under varying names and digital identities, without proper recording with the Commission, constitutes a deliberate circumvention of regulatory safeguards. This is not a case of mere technical lapse or administrative oversight. It is a calculated evasion of supervision,” the order read.

The regulator also flagged mounting consumer complaints, with more than 300 informal complaints filed against the company from January 2025 to January 2026. Five of these were escalated into formal administrative proceedings for alleged violations of rules prohibiting unfair debt collection practices.

The company also failed to reply to five show cause letters issued by the SEC, which the Commission described as “deliberate refusal to engage with lawful authority” and “blatant disregard of the Commission’s supervisory powers.”