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Politics

PIMENTEL TO BSP: STOP ISSUING P1K POLYMER BILLS

Senator Koko Pimentel III has asked the Bangko Sentral ng Pilipinas to stop the issuance and the production of the P1,000 polymer banknotes amid mounting complaints about its practical use as a legal tender. At the same time, Pimentel has filed a resolution urging the Senate to conduct a legislative inquiry on BSP’s inclination to […]

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Politics

ADOPT DIGITAL PAYMENT IN GOVERNMENT – LAPID

Senator Lito Lapid has filed a bill which mandates government offices to adopt digital transaction systems to allow them to pay and receive digital currency. The measure states that all government agencies, including but not limited to national government agencies (NGAs), foreign-based government agencies, all government corporations, local government units (LGUs), State Universities and Colleges […]

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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

GATCHALIAN TO BSP: USE SURVEILLANCE VS CYBERCRIME

Senator Win Gatchalian pressed for the passage of the bill that will give financial regulators the power to enhance the conduct of surveillance against cybercriminals given the massive shift in digital financial transactions. “Hackers and fraudsters are becoming very sophisticated and if we don’t stay ahead of the curve and no one is mandating to […]

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Politics

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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Politics

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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Politics

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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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

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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Politics

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 […]