Bill Type
Congress Name
Long Title
AN ACT REGULATING THE IMPOSITION OF INTEREST RATES ON LOANS GRANTED TO SMALL BORROWERS BY PAWNSHOPS, AMENDING FOR THIS PURPOSE, PRESIDENTIAL DECREE NO. 114, OTHERWISE KNOWN AS THE PAWNSHOP REGULATION ACT
Date filed
October 5, 1998
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB04124 |
| FULL TITLE : AN ACT REGULATING THE IMPOSITION OF INTEREST RATES ON LOANS GRANTED TO SMALL BORROWERS BY PAWNSHOPS, AMENDING FOR THIS PURPOSE, PRESIDENTIAL DECREE NO. 114, OTHERWISE KNOWN AS THE PAWNSHOP REGULATION ACT |
| ABSTRACT : Recommends the following interest rates on loans extended by pawnshops and pawnbrokers: (1) 6% per annum --- for a loan less than P2,000.00; (2) 7% per annum --- for a P2,000.00 to P5,000.00 loan; and (3) 9% per annum --- for a loan more than P5,000.00. |
| PRINCIPAL AUTHOR/S : HERRERA, ERNESTO F. |
| DATE FILED : 1998-10-05 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS : |
| 1. |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 1998-10-12 |
Abstract
Recommends the following interest rates on loans extended by pawnshops and pawnbrokers: (1) 6% per annum --- for a loan less than P2,000.00; (2) 7% per annum --- for a P2,000.00 to P5,000.00 loan; and (3) 9% per annum --- for a loan more than P5,000.00.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.