SEC to cap interest rates of lending firms

By Faye Almazan

Feb 04, 2022 12:13 am

THE Securities and Exchange Commission (SEC) is proposing guidelines to impose a cap on interest rates and other fees imposed by lending and financing companies and their online lending platforms (OLPs).

The commission on Thursday said the released draft memorandum circular on Jan. 27, 2022 aims to operationalize Bangko Sentral ng Pilipinas (BSP) Circular 1133, Series of 2021.

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