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BIR URGED: SUSPEND ONLINE TRANSFER FEES AMID COVID

Senator Win Gatchalian urged the Bangko Sentral ng Pilipinas (BSP) and the banking community to suspend the collection of fees on online money transfers while COVID-19 cases peak. “With a number of banks shortening their operating hours, some banks even temporarily closing as some of their employees have also contracted the disease or manifested symptoms […]

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KEEP NATIONAL HEROES IN PESO BILLS – GORDON

Philippine currency should not set aside its depiction of national heroes in recognition of their bravery and invaluable contribution to the country’s rich history and culture, re-electionist Senator Dick Gordon said. Gordon made the statement in response to the Bangko Sentral ng Pilipinas (BSP)’s announcement in phasing out World War II heroes in its experimental […]

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DON’T ERASE MEMORIES OF HEROES, SAYS GATCHALIAN

Senator Win Gatchalian is urging the Bangko Sentral ng Pilipinas (BSP) to reconsider its plan to replace the country’s World War II heroes in the P1,000 banknote with the Philippine Eagle, a move that he says would erase our heroes from the consciousness of future generations and deny their rightful place in history. “We should […]

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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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PROTECT BORROWERS VS LOAN SHARKS – GATCHALIAN

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 […]

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POE TO BSP: HELP FRAUD VICTIMS GET MONEY BACK

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 […]

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SENATE TO PROBE CREDIT CARD FRAUD – GATCHALIAN

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 […]

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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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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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FINSCOP ACT TO PUNISH SHADY FINANCIAL SERVICE PROVIDERS — CUA

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 […]