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SEC fines lending firm Nittal Capital for undisclosed credit charges, fees, rates
malaya Business Insight
|March 17, 2026
THE Securities and Exchange Commission (SEC) said it has penalized lending firm Nittal Capital Finance Inc. (NCFI) for incomplete disclosure of charges, interest rates, amortization, and other fees, prior to the borrower's signing of a loan deal.
The NCFI was fined P88,500, consisting of P20,000 for the first offense, plus P68,500 for 685 days of continued violation, the SEC said in a statement on Monday, March 16, 2026.
“Additionally, the SEC ordered NCFI to review and revise its disclosure statement templates, amortization schedules and loan information sheet to ensure strict compliance with the TILA and MC 7,” the state commission said.
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