Inquirer
MANILA, Philippines – The country’s largest organization of financial technology (fintech) companies expressed support to proposals to transfer the oversight of online lending firms to the Bangko Sentral ng Pilipinas (BSP). It added that the a shift could bring tighter supervision to a fast-growing and sometimes volatile corner of consumer finance. READ: SEC wants to cede lending app oversight to BSP Lito Villanueva, Fintech Alliance Philippines founding chairman, said the central bank has the mandate and resources to regulate online lenders. “Even the interest-setting authority or power should be with BSP,” Villanueva told reporters on the sidelines of a media conference […]... Keep on reading: Fintech firms back shifting online lending oversight to BSP
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