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- The Money Lending Act is a law that regulates the establishment of lending companies and places their operation on a sound, efficient and stable condition to derive the optimum advantages from them as an additional source of credit. The law aims to prevent and mitigate, as far as practicable, practices prejudicial to public interest, and to lay down the minimum requirements and standards under which they may be established and do business1. The law also regulates moneylending, the designation and control of a credit bureau, the collection, use and disclosure of borrower information and data, and for connected matters2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.
— It is hereby declared the policy of the State to regulate the establishment of lending companies and to place their operation on a sound, efficient and stable condition to derive the optimum advantages from them as an additional source of credit; to prevent and mitigate, as far as practicable, practices prejudicial to public interest; and to lay down the minimum requirements and standards under which they may be established...
www.officialgazette.gov.ph/2007/05/22/republic-ac…An Act for the regulation of moneylending, the designation and control of a credit bureau, the collection, use and disclosure of borrower information and data, and for connected matters.sso.agc.gov.sg/Act/MA2008 - People also ask
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