The CAK says grievances against the digital lenders were mainly about false and misleading representations and unreasonable conduct.
By
Kepha Muiruri
Business Reporter
Nation Media Group
Complaints to the competition watchdog about digital lenders’ hidden charges, change of borrowing terms and premature assets seizure amid tighter regulations aimed at curbing predatory lending.
Complaints against digital lenders have risen despite tighter regulation of the sector, suggesting consumer protection concerns…
Users of mobile phone-based micro-lenders have surged to over two million, from 200,000 in 2016.
Kenya’s digital lenders face rising penalties as regulators crack down on unlawful data practices, making compliance failures…
Court says the agreed interest terms produced an excessive financial burden that it could not enforce.
A Nairobi magistrate has ruled that digital lenders operating without a CBK licence cannot enforce unpaid loans through the…
It's been a record-breaking year for financial complaints, with a near 50 percent increase in the number lodged with the…
