THE Securities and Exchange Commission (SEC) has issued a cease and desist order against Umeta Credit Lending Corp. for operating unrecorded online lending platforms (OLPs) and engaging in unfair debt collection practices.
The regulator’s Financing and Lending Companies Department directed Umeta, its owners, agents and anyone acting on its behalf to immediately stop all lending activities, promotions and operations related to OLPs, including Meta Cash, MorePautang–Loan Hub, Cash Twig and FinLedger–Smart Ledger.
The company was found to be operating undisclosed OLPs without proper registration with the commission and was breach of an SEC moratorium on new OLPs.
“[Umeta’s] deployment of multiple OLPs under varying names and digital identities, without recording with the Commission, constitutes deliberate circumvention of regulatory safeguards,” the order read.
The SEC said it received over 300 informal complaints against the company from January 2025 to January 2026, five of which escalated into formal administrative proceedings involving unfair debt collection practices.
The company also failed to respond to five separate show-cause letters, which the SEC said constitutes “deliberate refusal to engage with lawful authority” and a “blatant disregard of the commission’s supervisory powers.”
“The convergence of unauthorized OLP operations, hundreds of complaints and repeated noncompliance with regulatory directives creates a clear and present danger to financial consumers,” the SEC said.
NAZYLEN JOY MABANGLO
