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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 […]
The proposed rice tariffication law is projected to temper inflation in the coming months as it will bring down the prices of the staple grain, Senator Sonny Angara said. Angara made the statement following the report of the Bangko Sentral ng Pilipinas (BSP) that year-on-year headline inflation moderated to an average of 5.9 percent in […]
Senator Sonny Angara has called for the swift passage of his bill seeking to boost the country’s gross international reserves (GIR) by granting tax exemptions to small-scale miners who would sell their gold to the Bangko Sentral ng Pilipinas (BSP). “I strongly urge the honorable members of the Philippine Senate to approve the passage of […]
The Senate has ratified the bicameral conference committee report on a bill increasing the Bangko Sentral ng Pilipinas’ (BSP) capitalization from P50 billion to P200 billion and strengthening its regulatory powers. “The bicameral conference committee adopted en toto the Senate version except for one amendment. They removed the tax provision that will go to the […]