Pasig city: Senator Sherwin Gatchalian on Tuesday stated that the recent raid on an online lending firm in Pasig City should serve as a warning to other abusive operators across the nation, highlighting the government's stance against exploitative practices in digital lending.

According to Philippines News Agency, the raid was executed through a coordinated initiative involving the National Bureau of Investigation (NBI), the Presidential Anti-Organized Crime Commission (PAOCC), the Securities and Exchange Commission (SEC), and the Philippine National Police's Anti-Cybercrime Group (ACG). Gatchalian praised the swift actions of these agencies for their successful crackdown on an abusive online lending company, emphasizing that it should alarm predatory online lending applications (OLAs) about being held accountable.

The senator reaffirmed his commitment to dismantling OLAs that engage in harassment, public shaming, and deception to collect debts. He expressed his determination to push for the eradication of abusive, defamatory, and deceptive online lending apps spreading throughout the country.

Gatchalian also pledged to advocate for the enactment of a fair debt collection law aimed at strengthening regulations, enforcing stricter penalties on abusive OLAs, and ultimately ending their exploitative practices. He committed to continued efforts in holding companies accountable that violate borrowers' rights and dignity.