With just a P1000 loan, Tala helped Aimee achieve her dreams of starting her own business, allowing her and her family access to more opportunities. Digital alternative finance channels are giving millennial micro-small-and-medium-enterprise (MSME) owners more capital to fund their businesses,...
The Securities and Exchange Commission (SEC) has revoked the Certificate of Authority (CA) of Fast Coin Lending Corp. to operate as a lending company for inactivity and its continuous non-compliance with disclosure requirements. In a statement, the SEC said Fast Coin has committed several...
The National Privacy Commission (NPC) has amended certain provisions of its Circular No. 2020-01, tightening the guidelines in the processing of personal data for loan-related transactions by lending firms and protecting references and guarantors used in loan applications. The new NPC Circular No....
The Securities and Exchange Commission (SEC) has has filed criminal complaint against Suncash Lending Investors Corp., UCash Lending Investors Corp., Suncredit.ph Finance Corp., and ECredit Finance Inc. for operating unregistered online lending platforms (OLPs). The SEC Enforcement and Investor...
Anti-cybercrime operatives of the Philippine National Police (PNP) arrested a total of 83 people in a raid on the office of an alleged illegal online lending agency in Sampaloc, Manila. Police Brig. Gen. Joel Doria, director of the PNP-Anti-Cybercrime Group (ACG), said those arrested were the ones...
AWARD FOR NVC –The Negrense Volunteer for Change (NVC) Foundation led by its president Millie Kilayko (second from right) was conferred the Parangal Lingkod Sambayanan award during the special academic convocation for Traditional Awards of the Ateneo de Manila University (ADMU) in Manila Tuesday,...
The Securities and Exchange Commission (SEC) has cancelled the lending license and corporate registration of Flying Bear Lending Corporation which is operating as Yopeso, Morepeso and Rapidpeso. In a statement, the commission said the cancellation is due to the firm’s failure to disclose its...
In the Philippines, many adult Filipinos still find it difficult to apply for loans. However, the heavy demand for digital transactions and experiences, accelerated by the Covid-19 pandemic, brought opportunities that led to revolutionizing lending to unbanked Filipinos towards a more...
Albay 2nd district Rep. Joey Salceda believes that a bigger crackdown on online lending and investment scams is coming sooner than later, thanks to President Duterte's expected signing of the Financial Consumer Protection (FCP) Act. (Maxim Ilyahov/ Unsplash) “I am told by sources in the Palace...
The Securities and Exchange Commission (SEC) has revoked the license of Cashtrees Lending Corporation for launching and operating unregistered online lending platforms (OLPs) despite a moratorium imposed by the Commission. In an order, the SEC Corporate Governance and Finance Department (CGFD)...
The Securities and Exchange Commission (SEC) has revoked the registration and secured conviction of several illegal lending companies as part of its sustained crackdown against illegal and abusive lenders, the Department of Finance (DOF) said. In a statement, the DOF cited an SEC report that showed...
While we can be thankful and optimistic that the worse of the COVID-19 global health crisis may be over, and that the light at the end of the COVID-tunnel is getting brighter; the inescapable truth is that while Resilience has been a key quality of us Filipinos, the pandemic has also shown us just...
