Re-electionist Senator Richard Gordon on Monday called on banks to enforce tighter online security to prevent hackers from stealing from clients’ accounts. Gordon, who chairs the Senate Committee on Justice and Human Rights, said banks should be more proactive in keeping their customers’ trust...
Senator Sherwin Gatchalin on Tuesday urged the banking industry to invest more on modern security banking solutions to induce confidence among financial consumers. Rather than telling the public how to avoid being a victim of cybercriminals, Gatchalian said banks should prioritize the protection of...
Senatorial aspirant and Sorsogon Governor Francis “Chiz” Escudero on Monday urged banks to ensure that 10 percent of their loan portfolio goes to micro, small and medium enterprises (MSMEs) financing. Escudero, who used to head the Senate committees on finance, and banks and financial...
Senator Nancy Binay has said the Bangko Sentral ng Pilipinas (BSP) should first seek congressional approval before it introduces any design changes on coins and bank notes. Binay made the suggestion in light of the removal of three World War II martyrs in the redesigned P1,000 banknote, saying a...
The bill seeking to amend provisions in the Philippine Deposit Insurance Corporation’s (PDIC) Charter is now up for Senate plenary discussions. Senator Sonny Angara, who chairs the Senate Finance Committee, on Wednesday night (Aug. 25), has sponsored Committee Report No. 287 on Senate Bill No....
Some senators on Thursday have called on the country’s banks to take responsibility for the operations of their “cash agents” to make sure that the banking public is protected, especially those who rely on “padala” or money sent by relatives to help them get by during the coronavirus...
Senator Leila de Lima is urging the Senate to look into the validity of the reported planned merger of two state-owned banks—the Landbank of the Philippines (Landbank) and United Coconut Planters Bank (UCPB)—as well as into the anomalies that may arise if the government’s plan proceeds. De...
OF SUBSTANCE AND SPIRIT Diwa C. Guinigundo Seals of approval for sovereigns like the Philippines are difficult to obtain. International financial institutions (IFIs), credit rating agencies (CRAs) and foreign investors would usually scrutinize our ability to withstand global shocks. While...
The Bureau of Internal Revenue (BIR) assured lawmakers of its full support for the proposed measure allowing banks to dispose their bad loans and other non-performing assets (NPAs) through asset management companies. BIR Commissioner Caesar Dulay gave this assurance during a recent joint hearing of...
