Legislative History
| House Bill/Resolution NO. HB06143 |
| FULL TITLE : AN ACT PROVIDING FOR THE PROTECTION OF FINANCIAL CONSUMERS AND FOR OTHER PURPOSES |
| ABSTRACT : Aims to address the travails (fraud, abuse and misconduct) being experienced by financial consumers due to the rapid development of complex financial products coupled with the use of advanced technologies.Proposes therefore to ensure that the rights of each and every consumer are protected by providing, among others, financial regulators such as the Bangko Sentral ng Pilipinas, Insurance Commission and the Securities and Exchange Commission.Defines several terms among others which include "Financial Consumer" who is a recipient of "Financial Products or Services" which are developed or marketed by a Financial Service Provider which may include, but are not limited to savings, credit, insurance, investments, payments, remittances and other similar products and services; also includes digital financial services. |
| PRINCIPAL AUTHOR/S : CUA, JUNIE E. |
| DATE FILED : 2020-02-03 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Sy-Alvarado (000 2020-03-05) |
| ACTIONS TAKEN BY THE COMMITTEE |
| MOTHER BILL: HB06768 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2020-02-05 |
Abstract
Aims to address the travails (fraud, abuse and misconduct) being experienced by financial consumers due to the rapid development of complex financial products coupled with the use of advanced technologies.Proposes therefore to ensure that the rights of each and every consumer are protected by providing, among others, financial regulators such as the Bangko Sentral ng Pilipinas, Insurance Commission and the Securities and Exchange Commission.Defines several terms among others which include "Financial Consumer" who is a recipient of "Financial Products or Services" which are developed or marketed by a Financial Service Provider which may include, but are not limited to savings, credit, insurance, investments, payments, remittances and other similar products and services; also includes digital financial services.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.