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Tougher rules ahead for online lenders – DOF
November 06, 2025
|The Philippine Star
The Department of Finance (DOF) has called for stronger measures to protect Filipinos from abusive lending practices, particularly from online platforms that charge excessive interest rates and trap borrowers in debt.
In a move to tighten the regulation of lending firms, Finance Secretary Ralph Recto said they are pushing for the imposition of stricter measures to have stronger safeguards for Filipinos amid the rise of online lending platforms.
“We need to further strengthen protections for our fellow Filipinos, especially as online lending platforms continue to increase, where people often fall victim to extremely high interest rates and end up buried in debt,” Recto said.
هذه القصة من طبعة November 06, 2025 من The Philippine Star.
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