Versuchen GOLD - Frei
DOF: Loan sharks face tougher SEC rules
Manila Bulletin
|November 6, 2025
Exploitative lending and financing firms could soon lose their grip on desperate borrowers as the Securities and Exchange Commission (SEC) moves to finalize caps on borrowing rates and other fees, after President Ferdinand R. Marcos Jr.'s chief economic manager ordered tighter oversight.
-
In a Nov. 5 statement, Department of Finance (DOF) Secretary Ralph G. Recto urged stricter consumer protection, pointing out that lending sharks are all over the online space, victimizing Filipinos with exceedingly high borrowing costs and dragging them into a debt trap.
According to the DOF, the SEC, under its supervision, is now wrapping up a memorandum circular (MC) that "will set caps on interest rates and other fees imposed by lending and financing firms."
Under the proposed rules, the SEC seeks to set a limit on interest rates and other fees applied to unsecured general-purpose loans with a maximum amount of ₱2,000 and six-month loan terms.
Diese Geschichte stammt aus der November 6, 2025-Ausgabe von Manila Bulletin.
Abonnieren Sie Magzter GOLD, um auf Tausende kuratierter Premium-Geschichten und über 9.000 Zeitschriften und Zeitungen zuzugreifen.
Sie sind bereits Abonnent? Anmelden
WEITERE GESCHICHTEN VON Manila Bulletin
Manila Bulletin
Meralco seeks rate reset after decade-long freeze
Power distributor Manila Electric Co. (Meralco) is seeking its first distribution rate increase in over a decade to fund a P272 billion grid modernization plan.
2 mins
February 23, 2026
Manila Bulletin
ASEAN-BAC to make regional growth more inclusive
The private sector arm of the Association of Southeast Asian Nations (ASEAN) is pushing to make the region's economic gains more inclusive, saying prosperity should not be limited to big businesses and the wealthy.
2 mins
February 23, 2026
Manila Bulletin
Flood-control probe won't hit banks
The Bangko Sentral ng Pilipinas (BSP) sees no evidence of large-scale capital flight stemming from an ongoing investigation into the controversial flood control project, suggesting that broader financial stability remains intact despite the political scandal.
2 mins
February 23, 2026
Manila Bulletin
Will it be Sara vs Leni in 2028? Robredo claims 'no rancor' in Marcos meeting
Despite Naga City Mayor Leni Robredo saying that there was \"no trace of rancor\" and nothing political in her recent meeting with President Marcos, her supporters are looking at a tangle for the high stakes 2028 presidential race between her and Vice President Sara Duterte.
5 mins
February 23, 2026
Manila Bulletin
Bond pricing overhauled
The government is overhauling its bond pricing conventions to match global standards as it nears potential inclusion in JPMorgan Chase & Co.’s emerging-market index, a move expected to trigger billions of pesos in foreign inflows.
1 mins
February 23, 2026
Manila Bulletin
PH air travel smashes pre-pandemic records
The Philippines’ air passenger volume exceeded pre-pandemic levels last year, soaring to a new record of more than 62 million passengers as travel demand maintained its upward trajectory, according to the Civil Aeronautics Board (CAB).
2 mins
February 23, 2026
Manila Bulletin
Senators' caucus to tackle Bato's continued absence, rules on dialogue with China
The Senate will discuss Sen. Ronald \"Bato\" Dela Rosa's continued absence from plenary sessions as well as the ground rules for possible discussions with the Chinese Embassy on the West Philippine Sea dispute in an all-senators' caucus on Monday, February 23.
2 mins
February 23, 2026
Manila Bulletin
Gilas pride at stake
Defending home court a bigger mission for Nationals
1 mins
February 23, 2026
Manila Bulletin
Duterte's confirmation of charges hearing at ICC begins
PNP on alert for possible protests, mass gatherings
5 mins
February 23, 2026
Manila Bulletin
For Romero, age is just a number
At 52, most athletes were already done with their careers and content at looking back, telling their past glories to their grandchildren and friends alike.
1 min
February 23, 2026
Listen
Translate
Change font size