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Senator Grace Poe asked the Bangko Sentral ng Pilipinas (BSP) to exert its persuasive powers on banks to provide relief to consumers during the enhanced community quarantine (ECQ). “The BSP has lowered interest rates and provided banks regulatory relief. In the same way, it can encourage banks to provide their clients relief during these difficult […]
Senator Win Gatchalian has taken steps in safeguarding financial consumers from being victimized by unethical and fraudulent schemes of some financial service providers and unscrupulous individuals. Noting the wide array of financial products and services following the COVID-19 outbreak, including the emergence of fraudsters that victimized those struggling with lost income, Gatchalian underscored the need […]
Senator Grace Poe urged the Bangko Sentral ng Pilipinas (BSP) to advocate for the rights of consumers and use its influence on banks to ensure fraud victims get their money back. “Financial regulators are keen on throwing banks a line when they are deemed to be too big to fail. Equally, individuals deserve proper and […]
Senator Win Gatchalian said the Senate will proceed in its investigation on credit card fraud and other unauthorized bank transactions as existing laws show a lack of necessary mechanisms to protect consumers from nefarious individuals. “Mula noong ibinunyag natin ang pambibiktima sa aking credit card hanggang ngayon ay hindi humihinto ang pagdagsa ng mga reklamo […]
Makati City Representative Luis Campos Jr. is asking the Bangko Sentral ng Pilipinas (BSP) to consider deferring the implementation of a new automated teller machine (ATM) charging model that will cause user fees to spike up to 63 percent starting April. Campos, a member of the House committee on banks and financial intermediaries said it […]
Expressing concern over the reported non-compliance of some banks to the debt moratorium, Senator Win Gatchalian called on the Bangko Sentral ng Pilipinas (BSP) to investigate erring banks and make sure that they comply with the provisions under the Bayanihan 1 and 2 laws. As the country’s regulator of the banking industry, the BSP is […]
Fines of up to P2 million and up to five years of jail time await unethical financial service providers and scammers found guilty of a bill the House of Representatives passed before going to recess.This according to Quirino Rep. Junie Cua, who on Tuesday said House Bill Number 6768, or the Financial Products and Services […]
A Laguna solon who shepherded the law on the national identification system has lauded the move by the Bangko Sentral ng Pilipinas to shoulder the cost of producing the ID cards. This after the BSP signed a memorandum of agreement with the Philippine Statistics Authority (PSA) on Monday to produce blank cards for IDs under […]
Senator Win Gatchalian said the deceleration of the country’s headline inflation to 2.7 percent in June would give the Bangko Sentral ng Pilipinas (BSP) more elbow room to adjust policy rates. Gatchalian, chair of the Senate committee on economic affairs, said the BSP could start easing its policy stance to help the country’s growth trajectory […]
Senator Win Gatchalian said the continuing downtrend in the headline inflation is a welcome development as the Bangko Sentral ng Pilipinas (BSP), under the leadership of newly-appointed Governor Benjamin Diokno, will have “more elbow room” to make adjustments in the country’s policy rates to spur economic growth. Gatchalian said the country pulled a “better-than-expected” inflation […]