Intentar ORO - Gratis
SEC clamps down on abusive lending practices, illegal ops
Manila Bulletin
|May 27, 2025
The Securities and Exchange Commission (SEC) has issued twin orders to shut down Online Lending Platforms (OLPs) Magic Peso as well as Peso Wallet and Credit Cash of Hupan Lending Technology Inc. and Hi-Fin Lending Inc., respectively.
In an order dated May 13, the SEC Financing and Lending Companies Department (FinLenD) directed Hupan Lending to cease and desist from operating Magic Peso and its declared OLPs, Cashme, Sukiloan, Pesopoly, and Loan Tayo.
The SEC said it acted on complaints received from borrowers who claimed to experience abusive collection practices from Magic Peso and found that it is an unrecorded and unregistered OLA.
Esta historia es de la edición May 27, 2025 de Manila Bulletin.
Suscríbete a Magzter GOLD para acceder a miles de historias premium seleccionadas y a más de 9000 revistas y periódicos.
¿Ya eres suscriptor? Iniciar sesión
MÁS HISTORIAS DE Manila Bulletin
Manila Bulletin
Why your face deserves sequential care
Witnessing the new chapter in skin aging
3 mins
November 12, 2025
Manila Bulletin
DPWH to file charges vs contractor of Navotas dike
The Department of Public Works and Highways (DPWH) will file charges against Hi-Tone Construction and Development Corporation for allegedly failing to repair a damaged section of the Navotas City Coastal Dike, which has been blamed for worsening floods in the city's coastal communities.
2 mins
November 12, 2025
Manila Bulletin
'Uwan', 'Tino' devastation blamed on corruption, greed
Combined death toll rises to 250-NDRRMC
3 mins
November 12, 2025
Manila Bulletin
Peso recovery faces growth headwinds-ING
Sluggish Philippine economic growth, compounded by a wider trade deficit and a less interventionist Bangko Sentral ng Pilipinas (BSP), is expected to weigh on the peso's recovery, potentially offsetting gains from anticipated easing of United States (US) interest rates.
2 mins
November 12, 2025
Manila Bulletin
Vape Law effective model of harm reduction in the Philippines—health expert
The Philippines' Vape Law has provided a crucial legal and ethical framework for tobacco harm reduction, empowering the medical community to recommend novel tobacco products to patients who do not quit smoking combustible cigarettes entirely.
3 mins
November 12, 2025
Manila Bulletin
Government warned against spending cuts
Economists from De La Salle University (DLSU) urged Philippine government officials to sustain public spending despite ongoing corruption investigations, warning that overly cautious fiscal policies could perpetuate decades of underinvestment.
3 mins
November 12, 2025
Manila Bulletin
SC declares constitutional BSKE's resetting from Dec. 2025 to Nov. 2026
There will be no Barangay and Sangguniang Kabataan Elections (BSKE) on Dec. 1, 2025.
3 mins
November 12, 2025
Manila Bulletin
Senate to invite Romualdez, 17 other congressmen to flood control probe
The Senate Blue Ribbon Committee will invite former House Speaker Martin Romualdez and 17 other members of the House of Representatives at the continuation of the panel's inquiry into the anomalous flood control projects.
3 mins
November 12, 2025
Manila Bulletin
Two become 40
Danica Valdes-Lloren and Andee de Guzman-Que celebrate life, friendship, and fashion in one unforgettable night
1 mins
November 12, 2025
Manila Bulletin
Our secret to intimacy after 25 years
Thank you, my dearest Filipinos, for making our 25th anniversary pictures from Nice Print Photography viral (1.6 million views on Instagram and 1.5 million views on Facebook).
2 mins
November 12, 2025
Listen
Translate
Change font size