The Securities and Exchange Commission (SEC) has slapped a ₱1-million penalty on Link Credit Lending Investors Inc., doing business under the names and styles of iPeso and Pesoin, for engaging in unfair debt collection practices. In an order dated July 18, the SEC Financing and Lending Companies...
After issuing a cease-and-desist order last May, the Securities and Exchange Commission (SEC) has revoked the corporate registration and secondary license of Convenience Cash Lending Corp. (CCLC), doing business under the name and style of Zada Cash and Bloom Cash, for engaging in unfair debt...
The Securities and Exchange Commission (SEC) has filed criminal charges against the employees, officers, and owners of Creditable Lending Corp., the operator of online lending application Easypeso, for engaging in abusive collection practices. Through an inquest proceeding on July 17, the SEC,...
S&P Global reported that credit growth across emerging markets (EMs) in Asia has generally softened in the first six months of the year, except in the Philippines and Vietnam, where lending has notably picked up pace. According to debt watcher S&P Global, loans from major banks, including universal...
While loans from big banks or universal and commercial banks, excluding investments in the central bank’s reverse repurchase (RRP), expanded at a slightly faster rate of 11.3 percent from April’s 11.2 percent, it remains relatively slower than March’s 11.8-percent expansion rate. In a...
The Securities and Exchange Commission (SEC) has issued cease-and-desist orders (CDO) against Bravo Zulo Romeo Lending Corp. (BZR Lending) for unauthorized lending operations and Magic Peso for illegally operating an online lending platform and for unfair debt collection practices. In a June 24,...
The Securities and Exchange Commission (SEC) has ordered Convenience Cash Lending Corporation to stop operating its unregistered lending activities, including those under the names Zada Cash and Bloom Cash. In a cease and desist order (CDO) issued on May 27, the SEC Financing and Lending Companies...
Atome, a buy-now-pay-later provider operating in Southeast Asia, has secured a $75 million asset-backed financing deal from investment firm Lending Ark, supporting its push to expand financial access in the Philippines. The Lending Ark Asia provided the financing for a secured private debt fund,...
Senator Sherwin Gatchalian on Wednesday, April 23 pushed for the passage of a bill seeking to eliminate the unfair debt collection practices of online lending companies. In filing Senate Bill No. 818, or the proposed Fair Debt Collection Practices Act, Gatchalian said it is necessary to also...
After hitting a more than two-year high in January 2025, bank lending continued to grow in February but at a slower pace, according to the Bangko Sentral ng Pilipinas (BSP). Preliminary data from the central bank showed that loans from big banks, excluding transactions with the BSP, grew by 12.2...
Senator Raffy Tulfo called out the Securities and Exchange Commission (SEC) for the several lapses he observed in terms of regulating financial and lending companies' operation of their respective online lending applications (OLAs). Sen. Raffy Tulfo presides over the Subcommittee on Banks,...
Following a string of interest rate cuts last year, bank lending accelerated further in January 2025, posting its fastest growth in over two years, according to the Bangko Sentral ng Pilipinas (BSP). The latest central bank data showed that lending by big banks expanded by 12.8 percent year-on-year...
