10 signatures reached
To: Congress, SEC, NTC, BSP
Stop MoneyCat’s Predatory Interest Rates Now
To: The Honorable Emilio B. Aquino
Chairperson, Securities and Exchange Commission of the Philippines
Dear Chairperson Aquino,
We, the undersigned Filipino borrowers, write to you in urgent appeal for immediate action against MoneyCat Financing Inc. (SEC Registration No. CS201953073), a licensed online lending company that has been systematically exploiting and harassing ordinary Filipinos.
THE PROBLEM
1. Predatory Interest Rates
MoneyCat charges up to 145% annual percentage rate (APR) — rates that trap borrowers in a cycle of debt they can never escape. What starts as a small emergency loan quickly balloons into an amount impossible to repay. This is not lending — this is a debt trap.
2. Illegal Scare Tactics
When borrowers struggle to pay, MoneyCat sends threatening emails citing the Civil Code’s fraud and bad faith provisions — implying criminal liability against borrowers who are simply financially distressed. This is deliberate psychological harassment designed to intimidate ordinary Filipinos who do not know their legal rights.
3. Violation of the Data Privacy Act of 2012
Most alarmingly, MoneyCat contacts people who were never listed as references by the borrower — reaching out to friends, family members, and colleagues without consent. This is a direct violation of Republic Act 10173 (Data Privacy Act of 2012) and causes immeasurable damage to borrowers’ reputations and personal relationships.
WHAT WE ARE ASKING
We respectfully but urgently call on the Securities and Exchange Commission to:
1. Investigate MoneyCat Financing Inc. for violations of SEC Memorandum Circular No. 18 (2019) on fair debt collection practices
2. Impose sanctions for their predatory interest rates and psychological harassment of borrowers
3. Revoke or suspend their Certificate of Authority if violations are confirmed
4. Coordinate with the National Privacy Commission to investigate their unauthorized use of borrowers’ personal data and contact information
5. Mandate interest rate caps to protect Filipino borrowers from exploitative lending practices
WHY THIS MATTERS
These are not isolated complaints. Thousands of Filipinos have fallen victim to MoneyCat’s practices. Many are workers, small earners, and families who turned to online lending out of desperation — only to be trapped, shamed, and harassed. The SEC granted MoneyCat its license to operate — and with that comes the responsibility to ensure it operates with integrity and within the law.
The law exists to protect Filipinos. We are asking you to enforce it.
Respectfully,
The Undersigned Filipino Borrowers
Chairperson, Securities and Exchange Commission of the Philippines
Dear Chairperson Aquino,
We, the undersigned Filipino borrowers, write to you in urgent appeal for immediate action against MoneyCat Financing Inc. (SEC Registration No. CS201953073), a licensed online lending company that has been systematically exploiting and harassing ordinary Filipinos.
THE PROBLEM
1. Predatory Interest Rates
MoneyCat charges up to 145% annual percentage rate (APR) — rates that trap borrowers in a cycle of debt they can never escape. What starts as a small emergency loan quickly balloons into an amount impossible to repay. This is not lending — this is a debt trap.
2. Illegal Scare Tactics
When borrowers struggle to pay, MoneyCat sends threatening emails citing the Civil Code’s fraud and bad faith provisions — implying criminal liability against borrowers who are simply financially distressed. This is deliberate psychological harassment designed to intimidate ordinary Filipinos who do not know their legal rights.
3. Violation of the Data Privacy Act of 2012
Most alarmingly, MoneyCat contacts people who were never listed as references by the borrower — reaching out to friends, family members, and colleagues without consent. This is a direct violation of Republic Act 10173 (Data Privacy Act of 2012) and causes immeasurable damage to borrowers’ reputations and personal relationships.
WHAT WE ARE ASKING
We respectfully but urgently call on the Securities and Exchange Commission to:
1. Investigate MoneyCat Financing Inc. for violations of SEC Memorandum Circular No. 18 (2019) on fair debt collection practices
2. Impose sanctions for their predatory interest rates and psychological harassment of borrowers
3. Revoke or suspend their Certificate of Authority if violations are confirmed
4. Coordinate with the National Privacy Commission to investigate their unauthorized use of borrowers’ personal data and contact information
5. Mandate interest rate caps to protect Filipino borrowers from exploitative lending practices
WHY THIS MATTERS
These are not isolated complaints. Thousands of Filipinos have fallen victim to MoneyCat’s practices. Many are workers, small earners, and families who turned to online lending out of desperation — only to be trapped, shamed, and harassed. The SEC granted MoneyCat its license to operate — and with that comes the responsibility to ensure it operates with integrity and within the law.
The law exists to protect Filipinos. We are asking you to enforce it.
Respectfully,
The Undersigned Filipino Borrowers
Why is this important?
WHY THIS MATTERS TO EVERY FILIPINO
This is not just one person’s problem. If you have ever taken out an online loan, or know someone who has, this affects you.
MoneyCat is not alone. Predatory online lending apps have multiplied across the Philippines, targeting ordinary Filipinos — workers, students, small business owners, and families — who simply needed emergency cash. They exploit our desperation, bury us in impossible interest rates, and then shame and harass us when we cannot pay.
Here is why you should join this campaign:
1. IT COULD HAPPEN TO YOU
Anyone can fall into financial difficulty. One medical emergency, one lost job, one family crisis — and suddenly you are the one being harassed, shamed, and threatened by a lending app.
2. YOUR DATA IS AT RISK
When these apps access your contact list and call people who were never your references, your personal information and the information of everyone in your phone is being violated. This is illegal and it must stop.
3. 145% INTEREST IS NOT LENDING — IT IS EXPLOITATION
No hardworking Filipino should be punished with interest rates that make repayment virtually impossible. These rates are designed to keep you in debt permanently.
4. SILENCE PROTECTS THEM, NOT YOU
Every borrower who stays silent allows these companies to continue. Your signature sends a message to the SEC that Filipinos are watching and demanding accountability.
5. THE LAW IS ON OUR SIDE
The Data Privacy Act, SEC regulations, and consumer protection laws already exist to protect us. We are not asking for new laws — we are asking our government to enforce the ones already in place.
Together we are not just borrowers complaining. We are Filipino citizens demanding that the institutions meant to protect us actually do their job.
Your signature takes one minute. Justice for thousands of Filipinos is worth that one minute.
Join us. Sign now.
Want me to also write a short and punchy social media post to drive people to your petition?
This is not just one person’s problem. If you have ever taken out an online loan, or know someone who has, this affects you.
MoneyCat is not alone. Predatory online lending apps have multiplied across the Philippines, targeting ordinary Filipinos — workers, students, small business owners, and families — who simply needed emergency cash. They exploit our desperation, bury us in impossible interest rates, and then shame and harass us when we cannot pay.
Here is why you should join this campaign:
1. IT COULD HAPPEN TO YOU
Anyone can fall into financial difficulty. One medical emergency, one lost job, one family crisis — and suddenly you are the one being harassed, shamed, and threatened by a lending app.
2. YOUR DATA IS AT RISK
When these apps access your contact list and call people who were never your references, your personal information and the information of everyone in your phone is being violated. This is illegal and it must stop.
3. 145% INTEREST IS NOT LENDING — IT IS EXPLOITATION
No hardworking Filipino should be punished with interest rates that make repayment virtually impossible. These rates are designed to keep you in debt permanently.
4. SILENCE PROTECTS THEM, NOT YOU
Every borrower who stays silent allows these companies to continue. Your signature sends a message to the SEC that Filipinos are watching and demanding accountability.
5. THE LAW IS ON OUR SIDE
The Data Privacy Act, SEC regulations, and consumer protection laws already exist to protect us. We are not asking for new laws — we are asking our government to enforce the ones already in place.
Together we are not just borrowers complaining. We are Filipino citizens demanding that the institutions meant to protect us actually do their job.
Your signature takes one minute. Justice for thousands of Filipinos is worth that one minute.
Join us. Sign now.
Want me to also write a short and punchy social media post to drive people to your petition?