'Nagpapadala pa ng bala': Senator blasts threats, tactics of some online lending firms

'Nagpapadala pa ng bala': Senator blasts threats, tactics of some online lending firms

The senator urged the SEC to impose "more stringent requirements" relating to the registration of online lending companies.

ONLINE DEBT COLLECTORS TOLD TO STOP HARASSMENTS

Senator Win Gatchalian reiterated the need for a measure that would prohibit unfair debt collection practices of online lending companies, as he lamented harassment being experienced by many borrowers who have availed of loans from online lending companies. “Ang mga nagpapautang na ito, ginawa nilang mas madali nga para makautang ang mga tao,” said Gatchalian. “Isang araw lang na hindi makabayad, puro pananakot na ang ginagawa nila.” “Pero isan…

SEC warns on illegal lending

THE Securities and Exchange Commission (SEC) – Cagayan de Oro Extension Office has issued a stern warning to the public to exercise caution when engaging with online lending platforms, amid reports of harassment and unlawful collection methods. Over a radio interview on April 15, SEC-Cagayan de Oro Supervising Administrative Officer Jesher Radaza emphasized the importance of verifying the registration status of online lenders. “We ask for the na…