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Nairaland Forum / Nairaland / General / Politics / Breaking :FCCPC Moves Against Digital Lending Violators (244 Views)
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Breaking :FCCPC Moves Against Digital Lending Violators by BigBlackPreek(m): 5:20pm On Feb 05 |
damu Abdullahi, the Acting Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC), has announced the commission’s intention to take action against violators in the digital lending sector. FCCPC moves against digital lending violators Franca Ochigbo, Abuja February 5, 2024 He emphasized that the FCCPC will persist in its investigation and monitoring efforts concerning digital money lenders across the country. In a statement issued by the Acting Executive Vice Chairman, it was highlighted that the FCCPC has observed a surge in violations of the Interagency Joint Task Force’s Limited, Interim Regulatory/Registration Framework and Guidelines for Digital Lending 2022. He said: “The Commission understands the increased demand for loans during this time of the year, leading to an increased risk of default due to large numbers and typical cash flow challenges and constraints. However, the solution cannot be to violate the law or utilize unethical recovery methods, as such, the Commission is intensifying enforcement efforts and adopting a zero-tolerance stance towards any exploitation of consumers or abusive conduct, whether in balance calculations, loan default enforcement, or recovery processes. Seun Myndd44, nlpfm please push to the front page |
Re: Breaking :FCCPC Moves Against Digital Lending Violators by sevenhundred(m): 6:57pm On Feb 05 |
BigBlackPreek:most of those online loan company are thieves that's why there are many defaulters. |
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