The Philippine Securities and Exchange Commission issued a cease and desist order against Fuse Lending, Inc. for the malicious use of the former corporate name of Fuse Financing, Inc. to operate a lending business without the required SEC license. The order, issued by the SEC Financing and Lending Companies Department, directs Fuse Lending and its owners, operators, agents, and persons acting on its behalf to immediately stop promoting and facilitating any lending activity or transaction. The action followed a report from Fuse Financing, Inc., the official financing arm of GCash, which flagged a suspicious website allegedly using its former corporate name and posing risks to the public and to legitimate operations. The SEC’s investigation found that Fuse Lending is not registered as a corporation, partnership, or one person corporation and has not obtained a secondary license from the SEC to operate as a lending company, citing requirements under Republic Act No. 9474 and enforcement powers under Republic Act No. 11765 to prevent fraud or harm to financial consumers.
Philippine Securities and Exchange Commission 2025-08-09
Philippine Securities and Exchange Commission issues cease and desist order against Fuse Lending for unlicensed lending website using Fuse Financing’s former name
The Philippine SEC issued a cease and desist order against Fuse Lending, Inc. for using the former name of Fuse Financing, Inc. without a required SEC license. The SEC found Fuse Lending unregistered and lacking a secondary license, violating Republic Act No. 9474 and Republic Act No. 11765. The order mandates an immediate halt to all lending activities by Fuse Lending and its affiliates.