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Business groups push financial consumer protection bill

Published July 19, 2021, 2:46 PM Some 16 local and foreign business groups have strongly urged for the immediate enactment of the proposed Financial Consumer Protection (FCP) Act, which seeks to protect consumers amidst the growing complexity in financial services, especially digital services. In a statement the business group said that the intricate development of financial products and services resulting from advancements in technology has opened countless opportunities for financial markets and consumers alike. It also poses new risks, particularly to financial consumers. “Reality has shown how financial products, including financial services accessed through digital channels, are susceptible to fraud or used for fraudulent purposes,” according to a statement.

United statesAssociation executivesCommerce of the philippines incPhilippine women economic networkNordic chamberShareholder association of the philippinesInvestment house association of the philippinesCebu leads foundationAmerican chamberNational real estate association incProfessionals incCebu business clubFinancial executives institute of the philippinesAlliance ph guildManagement association of the philippinesPhilippine life insurance association

Business groups back bill seeking to amend bank secrecy law

Several business groups are supporting the passage of a bill which seeks to relax the existing laws on bank secrecy.

United statesNew zealandBenjamin dioknoRodrigo duterteBangko sentralAssociation executivesJapanese chamberShareholder association of the philippinesHouse committee on banksCebu leads foundationBankers association of the philippinesAmerican chamberCebu business clubSenate committee on banksZealand chamberPhilippine life insurance association

Industry, business groups push for easing of Bank Secrecy Law

Industry, business groups push for easing of Bank Secrecy Law
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United statesNew zealandBangko sentralAssociation executivesBank deposits secrecyJapanese chamberPhilippine deposit insurance corpFund managers association of the philippinesShareholder association of the philippinesHouse committee on banksCebu leads foundationBankers association of the philippinesTax management association of the philippinesAmerican chamberProfessionals incCebu business club

Push for lifting of bank secrecy law intensifies

Banks and businesses have renewed calls for Congress to pass the bill amending Republic Act No. 1405 or the Secrecy of Bank Deposits for a more relaxed version of the law to allow the Bangko Sentral ng Pilipinas (BSP) to look into and investigate the bank accounts of suspicious individuals, especial

United statesNew zealandBangko sentralAssociation executivesJapanese chamberFund managers association of the philippinesShareholder association of the philippinesBankers association of the philippinesCebu leads foundationTax management association of the philippinesAmerican chamberSecrecy of bankProfessionals incCebu business clubFinancial executives institute of the philippinesZealand chamber

Clamor for immediate passage of CREATE bill

Published January 16, 2021, 7:00 AM Multisectoral groups, comprising of 51 largest and widely-represented private sector associations, have urged for the immediate enactment of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill to boost market confidence, save jobs and provide instant relief to businesses’ suffering from the COVID-19 impact. “We, members of some of the largest and most widely-represented private sector groups in the country, reiterate our strongest and unequivocal support for the immediate enactment of the CREATE Bill,” stated the joint statement. Congress has been deliberating the CREATE Bill for three years already, but both Houses have a hard time reconciling their versions.

Association executivesCommerce of the philippines incPhilippine women economic networkSchool of economics alumni associationShareholder association of the philippinesHousing developers associationInstitute for solidarityCebu leads foundationBankers association of the philippinesChinese chambers of commerce industry incCebu business clubFintech alliance philippinesPhilippine life insurance associationPhilippine centerAsia incRestaurant association of the philippines