SEC moves to lower interest rate caps and tighten enforcement
The Commission is likewise intensifying enforcement against harassment and abusive collection practices, including public shaming and unauthorized access to a…
· 2 min read
Daily TribuneTopic
The Commission is likewise intensifying enforcement against harassment and abusive collection practices, including public shaming and unauthorized access to a…
· 2 min read
Bank lending continued to expand in September, though at a slightly slower pace, as borrowing activity across key industries and consumer segments remained…
· 1 min read
Smart Communications has teamed up with fintech lending platform JuanHand to offer prepaid subscribers a 25 percent discount on select mobile load products…
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East West Banking Corporation (EastWest) posted a net income of P6.6 billion in the first nine months of 2025, driven by strong core revenue growth. The figure…
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The Securities and Exchange Commission has warned the public against 19 online lending platforms operating illegally in the country.
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The increase was largely supported by bank lending, with claims on the private sector expanding by 11.1 percent in August from 11.0 percent the previous month.
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Without regulation, some borrowers previously faced crushing repayment burdens, with effective interest rates soaring to triple digits annually.
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The Bangko Sentral ng Pilipinas (BSP) clarified that the mandatory credit quota for micro, small and medium enterprises (MSMEs) under the Magna Carta has…
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On social media platforms like Facebook and Reddit, tens of thousands of borrowers daily share distressing stories of harassment by collection agents.
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The orders also apply to the companies’ owners, operators, promoters, representatives, agents, and all other persons acting on their behalf.
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‘We now focus on lending in shorter terms – typically three to six months – and in smaller bite sizes, averaging around P25,000 to P30,000.’
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To assist victims, the commission has established a one-stop shop where the public can report harassment and intimidation by abusive platforms.
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Predatory lending doesn’t just harm individual borrowers, it also undermines trust in the entire financial system.
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In recent years, the SEC’s work has been thrust into the spotlight due to proliferating financial scams and abusive lending practices.
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It was Fuse Financing (formerly Fuse Lending, Inc.) that flagged the suspicious website allegedly using its previous corporate identity.
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The Securities and Exchange Commission (SEC) has ordered a lending company to immediately cease operations for allegedly exploiting the former name of GCash’s…
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Online lending app (OLA) operations and their ill effects are proving far worse than those of POGO and online gambling and should be banned altogether.
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‘We want kids to know who they are before platforms assume who they are.’
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