The Philippine Securities and Exchange Commission fined Inclusive Credit Lending Inc. PHP 1.03 million for violating interest rate and fee ceilings for online lenders and rules prohibiting unfair debt collection practices. The enforcement action concerns loans offered through the Pinoy Peso online lending platform. The regulator found that upfront deductions equal to 38% of the principal produced a seven-day effective interest rate of 61.29%, or 8.67% daily, far above the prescribed monthly ceiling of 15%, or about 0.5% daily. It also found that collection communications threatened harm to a borrower’s reputation, including by posting her identity and photograph on social media for nonpayment.
2026-07-24Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission fines Inclusive Credit PHP 1.03 million for excessive rates and unfair debt collection
The Philippine Securities and Exchange Commission fined Inclusive Credit Lending Inc. PHP 1.03 million for excessive interest rates and unfair debt collection practices. Its Pinoy Peso platform charged a seven-day effective interest rate of 61.29% and used collection threats that included public exposure on social media.