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CIC Partners with SEC for Webinar on Responsible Borrowing, Combating Abusive Lending

Credit Information Corporation - CIC

MAKATI CITY, 24 March 2022 – The Credit Information Corporation (CIC), the country’s public credit registry and repository of credit information, partners up with the Securities and Exchange Commission (SEC) on its special webinar series, #UsapangUtang, this March 31 and April 6.

Titled, “Responsible borrowing and combating abusive lending in the time of COVID-19,” the session will discuss the rights of the borrowers and the true cost of credit and proper debt collection practices of lenders.

“Due to the alarming number of borrowers who fall victim to predatory lending and abusive debt collection practices of various financial institutions, this webinar should help the Filipinos to stay vigilant and know their rights as borrowers while improving their creditworthiness,” CIC President and CEO Atty. Ben Joshua A. Baltazar said.

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The webinar will feature resource speakers from CIC, Atty. Leah B. Banagui-Han, Attorney V, and SEC, Atty. Rachel Esther J. Gumtang-Remalante, Director for Corporate Governance and Finance Department (CGFD).

Additionally, PCEO Baltazar once again advised the public to be vigilant against individuals and institutions which use CIC’s name and logo without authority or permission.

CIC Academy Webinar

“With this session, we would like to emphasize that debt collection is not part of our mandate so we will never contact anyone about their debts, nor does it have a blacklist of any delinquent borrowers – these are all tactics carried out by abusive collectors to collect debt,” PCEO Baltazar ended.

Everyone is invited to register for free at bit.ly/CICAcad2022Mar31 and join the webinar via Zoom to receive a certificate of participation.

You may also email us at [email protected] or follow us the official Facebook page of CIC for the latest information and updates on CIC’s activities and events.

The Credit Information Corporation (CIC), a government-owned and controlled corporation, was created by Republic Act No. 9510, otherwise known as the Credit Information System Act (CISA). The primary mandate of CIC is to establish a comprehensive and centralized credit information system for the collection and dissemination of fair and accurate information relevant to, or arising from, credit and credit-related activities of all entities participating in the ecosystem.

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