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Politics

USE BANK FOR ‘AYUDA’ OF FARMERS – GATCHALIAN

Senator Win Gatchalian recommended to the Department of Agriculture (DA) the opening of bank accounts for the beneficiaries of the fuel subsidy program to expedite the distribution of cash aid to farmers and fisherfolk and to jumpstart their financial inclusion and access to credit. Gatchalian likened the idea to his proposed Senate Bill No. 2251 […]

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Politics

PDIC CHARTER AMENDMENTS GET SENATE OK – ANGARA

The Senate unanimously approved on third and final reading a bill amending the Philippine Deposit Insurance Corp. (PDIC) charter, making it an attached agency of the Bangko Sentral ng Pilipinas (BSP). Voting 23-0-0, the Senate passed during Senate Bill No. (SBN) 2365 or An Act Amending Sections 1, 3, 4, 5, 6, 7, 8, 9, […]

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Politics

VILLANUEVA TO BANKS: PROTECT DIGITAL WALLETS

If ordinary employees guard their hard-earned money against pickpockets, banks should also make sure that cybercriminals don’t pick the digital wallets of those who gave them their pay for safekeeping, Senator Joel Villanueva said. “Payroll money entrusted by both employers and their workers should be kept safe at all times,” the chair of the Senate labor […]

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Politics

MORE BANKS SHOULD WAIVE ONLINE FEES – GATCHALIAN

To help ramp up the digitization of financial services in the country, Senator Win Gatchalian urged the Bangko Sentral ng Pilipinas (BSP) to enjoin more banks and electronic-money issuers (EMIs) to offer free online bank transfers and transaction fees. Gatchalian, the vice chairperson of the Senate Committee on Banks, Financial Institutions and Currencies, made the […]

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Politics

POE TO BSP: GIVE CONSUMERS RELIEF DURING ECQ

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 […]

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Politics

MAKE BANKS ACCOUNTABLE FOR OFW ‘PADALA’ – POE

Holding banks accountable for the actions of their cash agents will provide better protection for consumers, especially those who rely on the “padala” of their relatives to help them get by during these trying times. Senator Grace Poe said the central bank’s push for financial inclusion will benefit from the necessary safeguards and encourage more […]

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Politics

MAKATI SOLON TO BSP: DEFER HIKE OF ATM FEES

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 […]

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Politics

GATCHALIAN: PROBE BANKS VIOLATING DEBT MORATORIUM

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 […]

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Politics

SPARE CREDIT CARD FRAUD VICTIMS FROM HARASSMENT

Senator Win Gatchalian said victims of fraudulent use of credit cards must not be subjected by banks to harassment and unethical debt collecting practices. Some netizens who claimed to have been victimized by financial cyber thieves through their credit card have complained to Gatchalian about the mounting finance charges they are now facing brought about […]

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Politics

ANGARA: HALT ONLINE TRANSACTION FEES AMID COVID-19

Senator Sonny Angara issued an appeal to the banks and mobile payment systems to suspend the collection of fees for digital transactions while the country is still dealing with the COVID-19 pandemic. Several banks and mobile money services will resume their collection of fees in spite of an appeal by the Bangko Sentral ng Pilipinas […]