MANILA  -Extending cheap credit is crucial in furthering financial inclusion in the country but abusive online lending practices are scaring Filipinos from accessing alternative borrowing options, according to the Bangko Sentral ng Pilipinas (BSP). BSP Governor Eli Remolona Jr. said online lending application (OLA) operators harassing borrowers into paying loans were 'hampering' the progress of financial inclusion. OLAs are easily accessible because they usually have less stringent underwriting process compared to traditional banks.

https://business.inquirer.net/421195/bsp-vows-to-deal-with-abusive-online-lenders

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