Villanueva pushes probe on erring online lending firms

By Javier Joe Ismael

Jun 08, 2023 12:30 am

SENATE Majority Leader Emmanuel Joel Villanueva has filed Senate Resolution 641, calling for an inquiry in aid of legislation, on the rise of unregistered and unauthorized online lending platforms and their abusive collection practices.

Villanueva said that under Republic Act 9474 or the 'Lending Company Regulation Act of 2007,' it is the policy of the State to regulate the establishment of lending companies and to ensure that their operations are not prejudicial to the public interest.

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