SEC closes 7 lending apps
The orders also apply to the companies’ owners, operators, promoters, representatives, agents, and all other persons acting on their behalf.
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Daily TribuneTopic
The orders also apply to the companies’ owners, operators, promoters, representatives, agents, and all other persons acting on their behalf.
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The SEC warns of total loss, identity theft, market manipulation and even exposure to money laundering and terrorist financing.
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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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The Securities and Exchange Commission (SEC) has penalized two online lending firms for unfair collection tactics and misleading loan terms to protect…
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The Securities and Exchange Commission (SEC) has warned the public against dealing with Jia Financing Inc., after suspending the company’s authority to operate…
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A substantial majority – 91.1 percent of banks – plan to keep lending standards for business borrowers unchanged.
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The government regulates the importation, manufacture, sale, distribution, and use of vaporized nicotine and non-nicotine products, their devices, and vape…
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The National Bureau of Investigation (NBI) and the Department of Trade and Industry (DTI) have intensified their crackdown on unregistered and substandard vape…
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Senator Win Gatchalian on Monday filed the proposed Fair Debt Collection Practices Act, a priority measure for the 20th Congress, aiming to hold abusive online…
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‘The unregistered motor vehicles will be impounded until such time that they pass the roadworthiness inspection.’
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SANTIAGO CITY, Isabela — Around 273 containers of cooking oil were seized by the Criminal Investigation and Detection Group (CIDG) in Barangay Patul of this…
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The Securities and Exchange Commission (SEC) has warned the public against transacting with Zada Cash and Bloom Cash after issuing a cease-and-desist order…
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