The Philippine Securities and Exchange Commission issued a cease and desist order against Microdot Lending Corporation, directing it and its online lending platforms to immediately stop promoting and facilitating any lending activity or transaction due to alleged unfair debt collection practices and failure to disclose the operations of certain platforms. The order, dated September 23 and issued by the SEC Financing and Lending Companies Department, applies to Microdot and its online lending platforms, as well as their owners, operators, representatives, agents, and persons acting on their behalf. It covers MF Cash, Credit Cash, Credit Peso, Pesoloan Mart, Cash Baka, Cash Mabilis, Go Peso, Instant Loan, and Timely Loan. The SEC found Microdot failed to disclose the operations of Credit Peso Pro and MF Cash, breaching Section 3 of SEC Memorandum Circular No. 19, Series of 2019, which requires financing and lending firms to report all existing online lending platforms. The SEC also cited multiple complaints received since 2024 alleging unfair debt collection practices in violation of the implementing rules and regulations of Republic Act No. 11765 (Financial Products and Services Consumer Protection Act), and flagged continued noncompliance with SEC directives as a violation of Rule 8(c) of the implementing rules and regulations of Republic Act No. 9474 (Lending Company Regulation Act).

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