Who regulates online lending apps in the Philippines?
Last updated: 2026-07-10 · Educational content; not legal advice.
Short answer
The Securities and Exchange Commission (SEC). Online lending platforms are lending companies (RA 9474) or financing companies (RA 8556) that must be registered with, and are supervised by, the SEC — not the Bangko Sentral ng Pilipinas. The National Privacy Commission (RA 10173) separately regulates how an app handles your personal data and contacts, and unfair collection is governed by SEC Memorandum Circular 18 (2019). The BSP regulates only bank- or e-money-issuer-affiliated digital lenders. LabanPH's "Which regulator?" tool routes your specific complaint to the right agency.
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Frequently asked
Is it the SEC or the BSP for an online loan app?
Almost always the SEC — stand-alone online lending and financing companies are SEC-registered and SEC-supervised. Only when the digital lender is part of a bank or an e-money issuer does the BSP supervise it.
When do I go to the NPC instead?
When the harm is about your data — the app scraped your contacts, accessed your gallery, or disclosed your debt to others. That is a Data Privacy Act (RA 10173) matter for the National Privacy Commission, and you can file with the SEC and NPC at the same time.
Who handles the harassment itself?
The SEC, under Memorandum Circular 18 (2019), which prohibits third-party contact, threats, false representation, and after-hours calls by SEC-registered lenders and their agents.
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Interest caps, licensing, and how to complain about online lending apps in the Philippines.