National Privacy Commission Orders Immediate Takedown of Four Online Lending Apps
The lending apps are now being probed for their alleged unauthorized and “excessive” use of borrowers’ personal data.
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Online Lending Philippines
PH SEC Orders Lending Apps CashAB, CashOcean, KwikPeso, and Little Cash to Stop Operating
The Financing Act of 1998 punishes those without a license to engage in a financing business a fine of Php 10,000 – Php 100,000 or imprisonment of not more than 6 months or both.
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BSP, SEC to Craft Policy to Regulate Online Lending Firms
The impact of technology turns to be far-reaching and wide. Facing the ethical potentials of technology, the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) are crafting policy to regulate online lending firms.
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