Global fintech company Tala calls for collaboration between the public and private sector to combat illegal lenders and protect Filipinos.
, authorities crack down on predatory practices while industry players take major steps to educate and protect borrowers.
The Department of Finance has recently called on FinTech companies to work together to protect consumer confidence in the digital markets. Meanwhile, the Securities and Exchange Commission has intensified its campaign against unauthorized lenders with a series of orders, raids, and arrests over the last three months.
The public sector’s renewed enforcement actions against unauthorized lenders show a concerted, collaborative commitment to protecting consumers. Responsible financing and lending companies, including global FinTech company Tala, strongly support and share this commitment to prevent unauthorized lenders from reaching and taking advantage of Filipinos.
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