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Philippines SEC Raises Lending Capital to Combat Predatory Practices

2/9/2026

27 4 Full Breakdown

Summary

Story summary

The Securities and Exchange Commission in the Philippines will raise the minimum capital for lending companies from P1 million to P10 million to curb predatory lending.
SEC Chair Francis Lim cited aggressive lending practices arising from low capitalization.
The SEC set a maximum 6% monthly interest on loans up to P10,000, effective April 1, 2026.
The SEC upheld fines against NOW Corp. and chair Mel Velarde for misleading market disclosures.

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Story summary

The Securities and Exchange Commission in the Philippines will raise the minimum capital for lending companies from P1 million to P10 million to curb predatory lending.
SEC Chair Francis Lim cited aggressive lending practices arising from low capitalization.
The SEC set a maximum 6% monthly interest on loans up to P10,000, effective April 1, 2026.
The SEC upheld fines against NOW Corp. and chair Mel Velarde for misleading market disclosures.