Lenders back tighter SEC oversight of debt collectors
Source: BusinessWorld
Published on: 2026-11-02 13:44
LENDING and financing companies Tala Philippines and Global Dominion have expressed support for proposed Securities and Exchange Commission (SEC) rules requiring the accreditation and closer supervision of third-party debt collection agencies, citing the need to strengthen accountability and protect borrowers. In separate statements issued on Oct. 16 and Oct. 22, respectively, Tala and Global Dominion backed the SEC's proposed framework covering the accreditation, disclosure, and oversight of third-party collection agencies engaged by financing and lending companies. Under the draft rules, only SEC-accredited third-party collection agencies and the internal collection agents of financing and lending companies would be allowed to undertake debt collection activities. Accredited agencies would be included in a publicly accessible SEC registry, allowing borrowers to verify their accredit...
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