Lending Firm Faces P1-M Fine for Unfair Debt Collection
Manila: The Securities and Exchange Commission (SEC) has slapped Surity Cash Lending Investors Corporation, which offers personal loans through its mobile application, with a PHP1-million penalty for unfair debt collection practices. According to Philippines News Agency, the penalty was approved by the SEC’s Commission En Banc in a decision dated September 16, 2025. The lending firm was found guilty of three counts of violating SEC Memorandum Circular (MC) 18, which prohibits unfair debt collection tactics. The memorandum circular specifically bans the use of threats, violence, or criminal means to harm a person’s reputation or property. It also prohibits the use