SEC asks Google to take down illegal lending apps from Play Store

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Metro Manila (CNN Philippines, October 18) — The Securities and Exchange Commission (SEC) wants Google to remove illegal lending apps from the Google Play Store.

This is a part of the SEC's ongoing crackdown against illegal online lending operations.

"The SEC recently met with Google representatives to discuss the matter of illegal lending apps in the Google Play Store. Google has committed to working closely with the Commission in dealing with this issue on illegal lending apps," SEC Commissioner Kelvin Lee tweeted Friday.

He added that the SEC will discuss continue to discuss how to report and remove these applications.

This will prevent people from downloading and installing these apps on Android phones.

The SEC has issued cease and desist orders to 42 unregistered or unlicensed lending firms.

These lenders are A&V Lending Mobile, A&V Lending Investor, A.V. Lending Corporation, Binixo, Cash 100, Cashafin, Cashaku, Cashaso, CashBus, Cashcat, CashEnergy, Cash Whale, CashFlyer, CashMaya, Cashope, Cashuttle, Cashwarm, Cashwow, Crazy Loan, Creditpeso, ET Easy Loan,Flash Cash, Happy2Peso, HappyLoan, Hatulong, Instant Pera, Lendmo Philippines, MeLoan, MoneyTree Quick Loan, Pera Express, Pera4u, Peramart, PesoLending, PesoPagasa, Peso2Go, PhilyKredit, QuickPera, QuickPeso, Rainbow-Cash, Rainbowcash.Ph Lending Corp., Umbrella and Vito Lending Corp.

READ: SEC shuts down 12 unregistered online lenders