The Securities and Exchange Commission (SEC) has partnered with Fuse Financing Inc., the lending arm of GCash, to launch a nationwide financial literacy campaign aimed at helping Filipinos avoid predatory lenders and make informed borrowing decisions as digital lending expands.
Campaign Features and Goals
The campaign features SEC-approved educational videos that teach consumers how to identify unlicensed lenders, understand loan terms and costs, assess repayment capacity, and choose regulated credit providers.
SEC Commissioner Rogelio Quevedo said financial education complements the agency’s enforcement efforts against abusive lending practices.
“The SEC shall continue to exercise its regulatory and enforcement powers against violators. We must also empower the public with knowledge, awareness, and critical thinking. An informed citizen is the first line of defense against fraud,” Quevedo said, in a statement.
Reducing Stigma and Promoting Safe Borrowing
The initiative also seeks to reduce the stigma surrounding borrowing, which regulators said often drives financially constrained Filipinos toward illegal lenders instead of formal credit institutions.
Fuse Financing president and chief executive officer Tony Isidro said the partnership aims to promote safe borrowing practices and regulated credit options while helping consumers avoid debt traps.
Public Advisory
The SEC urged the public to borrow only from SEC-registered lenders, understand loan terms, and report suspicious lending activities to protect themselves from excessive interest rates, abusive collection practices, and fraud.
