Bill Type
Congress Name
Long Title
AN ACT PRESCRIBING THE RATES OF INTEREST UPON LOANS AND FORBEARANCES BY AMENDING CERTAIN SECTIONS OF REPUBLIC ACT NO. TWENTY SIX HUNDRED AND FIFTY FIVE, AS AMENDED, OTHERWISE KNOWN AS THE USURY LAW
Date filed
July 30, 2007
Scope
Legislative History
| House Bill/Resolution NO. HB01516 |
| FULL TITLE : AN ACT PRESCRIBING THE RATES OF INTEREST UPON LOANS AND FORBEARANCES BY AMENDING CERTAIN SECTIONS OF REPUBLIC ACT NO. TWENTY SIX HUNDRED AND FIFTY FIVE, AS AMENDED, OTHERWISE KNOWN AS THE USURY LAW |
| ABSTRACT : The bill seeks to afford more protection to small borrowers by setting a cap on interest rates based on prescribed benchmarks. |
| PRINCIPAL AUTHOR/S : AGGABAO, GIORGIDI B. |
| DATE FILED : 2007-07-30 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2007-08-08 |
Abstract
The bill seeks to afford more protection to small borrowers by setting a cap on interest rates based on prescribed benchmarks.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.