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...
The digital lending market in the country is expected to surpass $1 billion, or P58 billion, in the second half of 2025, fueled by the increasing demand for online financial technologies. Online loan platform Digido said the market is poised for rapid expansion this year driven by the growing...
The Department of Trade and Industry (DTI) should create a small loan program for micro, small and medium enterprises (MSMEs) with no interest rate, Sen. Ronald “Bato” Dela Rosa said. Dela Rosa raised this during the confirmation hearing of Department of Trade and Industry (DTI)...
Sen. Robinhood "Robin" Padilla has filed a bill that seeks to punish abusive lending and financing companies that force borrowers to settle their debts through harassment, shaming, and similar practices. Padilla filed Senate Bill 2882 after noting that RA 9474 (the Lending Company Regulation Act)...
Big banks’ outstanding loans grew by 11 percent year-on-year in September, an improvement from the 10.4 percent reported in August, according to the Bangko Sentral ng Pilipinas (BSP). Bank lending in peso terms amounted to P12.402 trillion in September, net of reverse repurchase (RRP) placements...
President Marcos has urged electricity distribution utilities to tap the Anti Bill Shock Lending Program of the Land Bank of the Philippines to ensure that electricity rates are affordable. Marcos made the directive to the Department of Energy (DOE) and the Energy Regulatory Commission (ERC)....
The Securities and Exchange Commission (SEC) has revoked the lending license of Copperstone Lending Inc. for its unfair debt collection practices and its failure to disclose the true and correct terms of loan contracts with borrowers. In a statement, the SEC said Copperstone Lending operates...
The Securities and Exchange Commission (SEC) has revoked the certificate of authority (CA) of Wealth and Personal Development Lending Inc. to operate as a lending company for its repeated failure to comply with reportorial requirements and alleged involvement in illegal activities. In a statement,...
The Bangko Sentral ng Pilipinas (BSP) reported that both domestic liquidity (M3) and bank lending grew last November and in the first 11 months of 2023. Preliminary data from the BSP showed that M3 grew by 7.0 percent year-on-year to about P16.8 trillion in November from 8.1 percent (revised) in...
