Unified lending ID system rollout on hold as SEC evaluates CIC’s platform

THE SECURITIES and Exchange Commission (SEC) is studying if it will use the Credit Information Corp.’s (CIC) existing unified lending identification (ULI) platform or set up its own system with the help of a private sector partner as part of its efforts to deter predatory lending.

- Alexandria Grace C. Magno

“We were also informed by the CIC that they can also perform the same task. So, we are now evaluating whether we will use the existing platform of the CIC, or we will really have to pursue the ULI,” SEC Commissioner Rogelio V. Quevedo told reporters on the sidelines of an event on Tuesday.