SEC shuts CredLadder over illegal lending

SEC shuts CredLadder over illegal lending

MANILA, Philippines — The Securities and Exchange Commission (SEC) has ordered online lending platform CredLadder to immediately stop operating due to unauthorized lending activities and abusive collection practices. In a cease-and-desist order, the SEC’s Enforcement and Investor Protection Department said CredLadder had continued operating even after the regulator issued an advisory against the platform in June. READ: SEC issues twin warnings on investment, lending schemes The regulator highlig