The Securities and Exchange Commission (SEC) on Wednesday said it revoked the certificate of authority of lending company Super Cash Lending Corp. for unfair debt collection practices. The memorandum circular provides for the prohibition on unfair debt collection practices of financing and lending companies. It added that Super Cash also threatened borrowers that they would be blacklisted with the National Bureau of Investigation and used profane and abusive language to collect debts. The commission said they also revoked the license of FCash Global Lending Inc. earlier this year for unfair debt collection practices. The online lending operators were also found to have employed abusive collection practices.

Source: Manila Times December 28, 2020 16:07 UTC