The Bangko Sentral ng Pilipinas recently approved the updating of the Truth in Lending act or Republic Act 3765.
What does this mean? Basically, it protects those that have loans from banks of credit cards from from misleading interest rates from our loan providers.
BSP Governor Amando M. Tetangco Jr. and the board have approved the updates last July 7, 2012.
For more information:
http://www.rbap.org/2012/04/updated-rules-implementing-the-truth-in-lending-act/
http://www.abs-cbnnews.com/business/07/25/11/bsp-tightens-rules-loan-transparency
Showing posts with label Updates on loans. Show all posts
Showing posts with label Updates on loans. Show all posts
Thursday, July 5, 2012
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