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MANILA - The Securities and Exchange Commission (SEC) has issued the memorandum circular implementing the cap on interest rates and other fees imposed by lending and financing companies, and their online lending platforms (OLPs). SEC Memorandum Circular No. 3, Series of 2022 (SEC MC 3), which will take effect on March 3, provides the guidelines on Bangko Sentral ng Pilipinas (BSP) Circular No. 1133, Series of 2021, on the ceiling/s of interest rates and other fees charged by lending companies, financing companies, and their online lending platforms. The BSP circular prescribes the maximum inte...

MANILA - The Securities and Exchange Commission (SEC) has released the draft memorandum circular that will implement a cap on interest rates and other fees by lending and financing companies, and their online lending platforms (OLPs). The proposed guidelines, released on January 27 for public comment, will operationalize Bangko Sentral ng Pilipinas (BSP) Circular No. 1133 Series of 2021, which prescribes the maximum interest rates and other fees charged by lending and financing companies, and their OLPs. The BSP fixed the maximum nominal interest rate at 6 percent per month, or about 0.2 perce...

MURDERED SIBLINGS. The photos of the slain Maguad siblings are posted by co-villagers on Facebook calling for justice on the death of the siblings in Barangay Bagontapay, M'lang, North Cotabato on Dec. 10, 2021. A special investigation task force has been formed Monday (Dec. 13, 2021) by the provincial police office to hasten the resolution of the case. (Photo courtesy of Sky Radio M'lang) M'LANG, North Cotabato - Authorities formed Monday a special investigation task group (SITG) to look deeper into the killing of the two young siblings in Barangay Bagontapay here on Dec. 10. In a...