Bill Type
Congress Name
Long Title
AN ACT DECLARING UNLAWFUL FOR FINANCIAL ESTABLISHMENTS AND OTHER ENTITIES ENGAGED IN CREDIT CARD BUSINESS TO CHARGE INTEREST RATES EXCEEDING FORTY-TWO PERCENT (42%) PER ANNUM, INCLUDING PENALTY FOR LATE PAYMENT AND OTHER FINANCE CHARGES AND PROVIDING PENALTIES THEREFOR
Date filed
July 7, 2004
Scope
Legislative History
| House Bill/Resolution NO. HB01194 | |
| FULL TITLE : AN ACT DECLARING UNLAWFUL FOR FINANCIAL ESTABLISHMENTS AND OTHER ENTITIES ENGAGED IN CREDIT CARD BUSINESS TO CHARGE INTEREST RATES EXCEEDING FORTY-TWO PERCENT (42%) PER ANNUM, INCLUDING PENALTY FOR LATE PAYMENT AND OTHER FINANCE CHARGES AND PROVIDING PENALTIES THEREFOR | |
| ABSTRACT : The bill imposes a fine of P100,000 and imprisonment of three to six years to violators of this Act. | |
| PRINCIPAL AUTHOR/S : ALFELOR, FELIX JR. R. | |
| DATE FILED : 2004-07-07 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Olano (010 ) | 2. Mangudadatu (019 ) |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON TRADE AND INDUSTRY ON 2004-08-02 |
Abstract
The bill imposes a fine of P100,000 and imprisonment of three to six years to violators of this Act.'
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.