Zarate wants immediate passage of bill regulating bank fees amid impending hike
Published February 11, 2021 11:24am Bayan Muna party-list Representative Carlos Isagani Zarate on Thursday urged the House leadership to fast-track the passage of House Bill 4019, which aims to regulate the fees and charges being imposed by banks. Zarate s call came after the announcement that inter-bank automated teller machine (ATM) fees are set to increase starting April. According to Zarate, a review on disclosure requirements to consumers and the actual costs incurred by banks should be made and shown to consumers before an increase on fees will be made. “Mukhang tataas na naman ang sisingilin mula sa atin sa paggamit ng ATM pero ang mga bangko naman talaga ang kumikita dito mula pa dati, pero, ironically, pera din naman natin ang ginagamit nila sa kanilang negosyo, Zarate said in a statement.
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Metro Manila (CNN Philippines, February 11) - A bill amending the Philippines 65-year-old Bank Secrecy Law is gaining steam at the House of Representatives, and sailing smoothly off to plenary.
Influential bankers from the Bankers Association of the Philippines (BAP) and the Chamber of Thrift Banks rallied behind a proposal to give the Bangko Sentral ng Pilipinas more power to examine bank deposits.
The BAP has written House Committee on Banks chairman Junie Cua, proposing that the central bank be allowed to share information from the investigation of deposit accounts with other law enforcement or regulatory agencies to expedite prosecution.
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The Bankers Association of the Philippines (BAP) on Wednesday said the adoption of the ATM pricing method using acquirer-based fee principle will offer more competitive rates.
“We are appreciative of the BSP’s (Bangko Sentral ng Pilipinas) move to adopt this pricing philosophy that is market driv
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