Federal Competition & Consumer Protection Commission, FCCPC has permanently delisted Sycamore Integrated, Orange Loan and Purple Credit as approved Digital Mobile Lenders.
Babatunde Irukera, the Executive Vice Chairman of FCCPC, disclosed this in a statement on Thursday.
You will recall that FCCPC vowed to delist and remove from Google DMLs found guilty of harassing and defaming customers.
Irukera stated that the Commission’s investigation found the three DMLs of malfeasance.
Also, the Commission said it has asked Google to permanently delete the three DMLs from PlayStore.
He explained that the three DMLs own Getloan and Camelloan Apps respectively.
The Commission further warned all DMLs to desist from invading customers’ privacy in the name of loan recovery.
“The companies or apps so far identified, and for which there is supporting evidence of this malfeasance, are Sycamore Integrated Solutions Limited and Orange Loan and Purple Credit Limited. They own “Getloan” and “Camelloan”, respectively, and occupy Nos. 1 and 65 on the Approved List of the Commission, which is available on the Commission’s website. “Accordingly, the Commission has now permanently delisted Sycamore Integrated Solutions Limited and Orange Loan and Purple Credit Limited, along with their respective apps – “Getloan” and “Camelloan”. In addition, the Commission has entered an Order to Google PlayStore and other payment and financial service providers, permanently prohibiting providing any services associated with digital lending to Sycamore Integrated Solutions Limited and Orange Loan and Purple Credit Limited. “The Commission reiterates that this revocation and action are permanent without option or opportunity of reconsideration, and the same consequence shall apply to all other violators as the Commission discovers them. In addition, all the information and evidence available with respect to these businesses will be transferred to law enforcement agencies and or any other relevant regulator(s)”, the statement partly reads.