Sen. Sherwin Gatchalian said the liability of lending firms should not only be administrative as some of the acts committed against financial consumers already constitute criminal accountability such as infringement of data privacy and cyber harassment.
Non-profit group Foundation for Media Alternatives (FMA) has released a new report on the mobile lending issue, which has been lingering in the last couple of years due allegations of debt-shaming and other forms of harassment.
The SEC said Super Cash Lending Corp., operating through its online lending platforms Super Cash, Cash Porter, and Loan Bee, threatened borrowers with shaming on social media through the publication of their loan and personal details, as well as with estafa and theft charges.
