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The Securities and Exchange Commission (SEC) has revoked the license of Fynamics Lending Inc. to operate as a lending company over its repeated failure to comply with reportorial requirements. In an order dated January 5, the SEC’s Corporate Governance and Finance Department (CGFD) upheld its earlier order dated December 6,…
The Securities and Exchange Commission has cracked its whip on another erring lending company, Fynamics Lending Inc., which operates online lending platform Pondo Peso.
The Securities and Exchange Commission (SEC) has declared final and executory the revocation of the Certificate of Authority (CA) of Fynamics Lending Inc. to operate as a lending company. In a statement, the SEC said this comes after Fynamics’ repeated failure to comply with reportorial requirement
Published February 20, 2021, 5:00 AM The National Privacy Commission (NPC) has recommended the prosecution of Fynamics Lending Inc., the operator of the PondoPeso online lending application which has reportedly been harassing and public-shaming delinquent borrowers, for violating the data privacy law. In a 40-page decision, the Commission chaired by Privacy Commissioner Raymund Enriquez Liboro determined the criminal liability of Fynamics Lending Inc. and its Board of Directors, for violation of Section 25 (Unauthorized Processing of Personal Information and Sensitive Personal Information) of...
NPC recommends filing of criminal complaint against online lending firm Share on email In what is believed to be the first case of a local firm found violating the data privacy law, the National Privacy Commission (NPC) has recommended the criminal prosecution of Fynamics Lending Inc., the operator of the PondoPeso online lending application that was the subject of numerous data privacy complaints. In a 40-page decision, the NPC determined the liability of Fynamics Lending Inc. and its board of directors, as responsible officers, for violation of Section 25 (Unauthorized Processing of Persona...