SEC, Mynt, Fuse partner on financial literacy campaign

THE Securities and Exchange Commission (SEC), Mynt, Inc., and Fuse Financing, Inc. have signed a memorandum of understanding (MoU) to collaborate on financial literacy, responsible borrowing, and consumer protection initiatives.

In a statement on Tuesday, the SEC said the agreement provides a framework for the three organizations to develop and distribute SEC-approved educational materials through digital platforms.

Under the partnership, the organizations will produce multimedia content on responsible borrowing, understanding loan terms, assessing repayment capacity, identifying legitimate lenders, and recognizing warning signs of illegal lending operations and financial scams.

The campaign will also encourage consumers to review financial products carefully, verify the legitimacy of financial service providers, understand contract terms, and report suspected unlawful activities to authorities.

The SEC said the initiative supports its mandate to protect the investing public and preserve the integrity of the financial system.

“While the SEC will continue to exercise its regulatory and enforcement powers against violators, we must also empower the public with knowledge, awareness, and critical thinking. An informed citizen is the first line of defense against fraud,” SEC Commissioner Rogelio V. Quevedo said during the signing ceremony.

The SEC said Mynt and Fuse Financing will use their digital platforms to distribute the financial education materials developed under the partnership. — Alexandria Grace C. Magno