The Securities and Exchange Commission (SEC) has ordered online lending platform Peso Flow to cease operations and take down its website and other digital channels after finding that it was conducting unauthorized financing activities while using the corporate identity of a registered financing company.
The Securities and Exchange Commission (SEC) has ordered the operators of several online accounts impersonating Tekwang Lending Corp. to stop offering unauthorized lending services.
The Securities and Exchange Commission (SEC) is reopening the online lending app market nearly five years after freezing new entrants, but is doing so under a stricter regulatory regime meant to curb the abusive and predatory practices that have long dogged the sector.
The Securities and Exchange Commission (SEC) has released for public comment a revised set of draft rules that would lift the moratorium on the registration of online lending platforms (OLPs) while imposing higher capital requirements and tighter consumer protection measures on financing and lending companies.
The regulators cited reports of OLPs (online lending platforms) engaging in harassment, intimidation, public shaming, and unlawful use of personal data in debt collection.
The Securities and Exchange Commission (SEC) is planning to lift the moratorium on the registration of new online lending platforms (OLPs), while introducing stricter regulatory requirements aimed at protecting borrowers and improving oversight of the digital lending industry.
The Securities and Exchange Commission (SEC) has ordered digital lending firm Digido Finance Corp. to permanently cease its financing operations, after finding that the company continued extending loans despite the revocation of its corporate registration and financing license last year.
The Securities and Exchange Commission (SEC) has ordered seven online lending operators to cease operations after they were found to be operating without proper registration.
The Securities and Exchange Commission (SEC) has intensified its campaign against erring online lending companies, filing criminal charges, issuing cease and desist orders, imposing hefty penalties, and revoking licenses in a string of enforcement actions throughout July.
The Securities and Exchange Commission (SEC) has cancelled the lending license of Copperstone Lending, which operates online lending platforms (OLPs) Quickla, Pococash, Blue Peso, Peso Forrest, Moca Moca, Pesobuffet, and Load Cash, for its unfair debt collection practices and its failure to disclose the true and correct terms of loan contracts with borrowers.
