SEC investigating 64 lending apps over complaints of harassment


Posted at Sep 25 2019 10:18 AM

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The Philippine Securities and Exchange Commission is investigating 64 registered mobile lending apps after receiving complaints for harassment.

In this interview with #ANCEarlyEdition, SEC chairman Emilio Aquino says while fintech is helping bridge the gap for unbanked Filipinos, some investors are taking advantage of the system to cheat or harass clients.

The SEC has already asked Google to block the operators of 30 lending apps shut down by the regulator over various complaints.