Committee on BANKS, FINANCIAL INSTITUTIONS AND CURRENCIES
EMERGENCY FINANCIAL STABILITY AND CONSUMER PROTECTION ACT
Senate Bill No. 2121, known as the Emergency Financial Stability and Consumer Protection Act, aims to grant the Bangko Sentral ng Pilipinas (BSP) emergency regulatory powers over supervised financial institutions during a declared national emergency.
PROMOTION OF DIGITAL PAYMENTS ACT
The Promotion of Digital Payments Act aims to promote the use of digital payments for government transactions and merchant activities, addressing the current reliance on cash payments in the Philippines.
EBAYAD ACT
The eBayad Act aims to adopt and regulate digital payment systems for government financial transactions and merchants, promoting financial inclusion and efficient service delivery.
FURTHER STRENGTHENING THE ANTI-MONEY LAUNDERING COUNCIL
Senate Bill No. 1983 aims to strengthen the Anti-Money Laundering Council (AMLC) by enhancing its authority, expanding the scope of covered persons, and updating provisions related to money laundering offenses.
DIGITAL PAYMENT ACT
The Digital Payment Act aims to promote the adoption of digital payments for financial transactions by government entities and merchants, enhancing efficiency and transparency in financial operations.
OVERSEAS FILIPINO WORKERS (OFWS) REMITTANCE PROTECTION ACT
The Overseas Filipino Workers (OFWs) Remittance Protection Act aims to protect the remittances of OFWs by regulating fees charged by financial institutions and providing financial literacy education to OFWs and their families.
ELECTRONIC PAYMENTS FOR MERCHANTS, ENTEPRISES, AND NATIONWIDE TRANSACTIONS (E-PAYMENT ACT)
Senate Bill No. 1821, known as the Electronic Payments for Merchants, Enterprises, and Nationwide Transactions (E-Payment Act), aims to promote the adoption of digital payments for financial transactions by the government and all merchants in the Philippines.
FURTHER STRENGTHENING THE ANTI-MONEY LAUNDERING ACT
This bill aims to strengthen the Anti-Money Laundering Act by amending provisions related to the Anti-Money Laundering Council's authority, customer identification requirements, and reporting obligations for covered institutions.
CREATION, ORGANIZATION, AND OPERATION OF DIGITAL BANKS
This bill aims to create a regulatory framework for digital banks in the Philippines by amending the General Banking Law of 2000. It defines digital banks, sets minimum capital requirements, and establishes operational guidelines to promote financial inclusion and security in digital banking.
EXPANDED BANKING SERVICES ACT
The Expanded Banking Services Act aims to enable banks to expand their service delivery channels through cash agents, particularly in remote areas, to improve financial inclusion.
FAIR DEBT COLLECTION PRACTICES ACT
The Fair Debt Collection Practices Act aims to regulate debt collection practices to protect debtors from abusive and unfair treatment by creditors and debt collectors. It establishes clear guidelines for acceptable debt collection methods and outlines the rights of debtors.
BANKING REFORM FOR INTEGRITY, GOOD GOVERNANCE, HONESTY, AND TRANSPARENCY (BRIGHT) ACT
The Banking Reform for Integrity, Good Governance, Honesty, and Transparency (BRIGHT) Act aims to expand the disclosure of bank and financial deposits, repealing certain provisions of existing laws that govern the secrecy of deposits. It seeks to combat financial crimes and promote transparency in banking practices.
ANTI-BULK FOREIGN CURRENCY SMUGGLING ACT
The Anti-Bulk Foreign Currency Smuggling Act aims to penalize the smuggling of foreign currency and other monetary instruments in bulk into or out of the Philippines, addressing risks associated with money laundering and terrorism financing.
STRENGTHENING THE ANTI-MONEY LAUNDERING COUNCIL
This bill aims to strengthen the Anti-Money Laundering Council (AMLC) by amending the Anti-Money Laundering Act of 2001. It seeks to enhance the AMLC's authority and operational capacity to combat money laundering and terrorism financing, particularly in light of international compliance standards set by the Financial Action Task Force (FATF).
ENHANCING THE LIQUIDATION FRAMEWORK FOR BANKS AND BANKING INSTITUTIONS
This bill aims to amend the charter of the Philippine Deposit Insurance Corporation (PDIC) to enhance the liquidation framework for banks and banking institutions, strengthen the PDIC's independence and authority, and expand deposit insurance coverage.
AMENDING R.A. NO. 1405 (THE SECRECY OF BANK DEPOSITS LAW)
This bill aims to amend the Secrecy of Bank Deposits Law to enhance transparency in banking operations and strengthen anti-corruption measures by allowing regulatory bodies to access deposit information under specific conditions.
AMENDING R.A. NO. 1405 (SECRECY OF BANK DEPOSITS LAW)
This bill amends the Secrecy of Bank Deposits Law to enhance transparency in banking operations and strengthen anti-corruption measures. It allows for certain disclosures of bank deposits under specific conditions, particularly in cases of fraud or misconduct by public officials.
FURTHER STRENGTHENING THE ANTI-MONEY LAUNDERING COUNCIL
This bill aims to strengthen the Anti-Money Laundering Council (AMLC) by amending the Anti-Money Laundering Act of 2001. It includes provisions for the inclusion of virtual asset service providers, enhanced powers for the AMLC, and stricter compliance measures for covered persons.
OVERSEAS FILIPINO BANK ACT
The Overseas Filipino Bank Act aims to establish the Overseas Filipino Bank to provide financial services to overseas Filipinos and their families, including loans and investment opportunities.
FURTHER STRENGTHENING THE ANTI-MONEY LAUNDERING COUNCIL
This bill aims to strengthen the Anti-Money Laundering Council (AMLC) by amending the Anti-Money Laundering Act of 2001. It includes provisions for the authority to suspend transactions, freeze assets without a court order, and expand the AMLC's capabilities to combat money laundering and terrorism financing effectively.
DIGITAL PAYMENTS ACT
The Digital Payments Act aims to promote the use of digital payments for government and merchant transactions, enhancing financial inclusion and efficiency in public service delivery.
OVERSEAS FILIPINO BANK ACT
The Overseas Filipino Bank Act aims to establish a revised charter for the Overseas Filipino Bank (OFBank), focusing on providing financial services tailored to the needs of overseas Filipino workers (OFWs).
OVERSEAS FILIPINO BANK ACT
The Overseas Filipino Bank Act aims to establish a revised charter for the Overseas Filipino Bank (OFBank), focusing on providing accessible financial services to overseas Filipinos and their families, while ensuring the bank operates as a fully digital institution.
OVERSEAS FILIPINO WORKERS (OFWS) REMITTANCE PROTECTION ACT
The Overseas Filipino Workers (OFWs) Remittance Protection Act aims to protect the remittances of OFWs by regulating fees and ensuring transparency in remittance transactions.
BANKING REFORM FOR INTEGRITY, GOOD GOVERNANCE, HONESTY, AND TRASPARENCY (BRIGHT) ACT
The Banking Reform for Integrity, Good Governance, Honesty, and Transparency (BRIGHT) Act aims to expand the disclosure of bank and financial deposits by repealing existing laws on deposit secrecy.
NEW CREDIT INFORMATION SYSTEM ACT
This bill aims to abolish the Credit Information Corporation and transfer its functions to the Bangko Sentral ng Pilipinas, thereby streamlining the credit information system in the Philippines.
AMENDING REPUBLIC ACT NO. 1405 (BANK SECRECY ACT)
Senate Bill No. 1364 aims to amend the Bank Secrecy Act to allow courts or investigating bodies to examine the bank deposits of public officials, addressing concerns about the misuse of bank secrecy by corrupt officials.
ENVIRONMENTAL UNIT IN EVERY BANKING INSTITUTION ACT
This bill aims to establish environmental units in all banking institutions to ensure that loan applications comply with environmental laws and to promote sustainable financing practices.
ONE FILIPINO, ONE BANK ACCOUNT ACT
The One Filipino, One Bank Account Act mandates the Land Bank of the Philippines and the Development Bank of the Philippines to create and maintain a bank account for every unbanked Filipino citizen, facilitating access to financial services and government social programs.
PRE-APPROVED CREDIT CARD PROHIBITION ACT
The Pre-Approved Credit Card Prohibition Act aims to prohibit the issuance of unsolicited credit cards without consumer consent and establishes penalties for violations.
OVERSEAS FILIPINO WORKERS (OFWS) REMITTANCE PROTECTION ACT
The Overseas Filipino Workers (OFWs) Remittance Protection Act aims to protect the remittances sent by OFWs to their families in the Philippines. It includes provisions for discounts on remittance fees, mandatory financial education for OFWs and their families, and penalties for violations related to remittance practices.
AMENDING SEC. 2 OF R.A.. NO. 1405 (SECRECY OF BANK DEPOSITS LAW)
This bill amends the Secrecy of Bank Deposits Law to allow for greater transparency in financial transactions, particularly in cases of suspected illegal activity, while still protecting the rights of depositors.
USE OF DIGITAL TRANSACTION PAYMENTS ACT
The Use of Digital Transaction Payments Act aims to promote the adoption of digital payments for financial transactions by the government and merchants, enhancing efficiency and transparency in financial dealings.
GFIS UNIFIED INITIATIVES TO DISTRESSED ENTERPRISES FOR ECONOMIC RECOVERY (GUIDE) ACT
The GFIS Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) Act aims to provide financial support to micro, small, and medium enterprises (MSMEs) and strategically important companies affected by the COVID-19 pandemic. It seeks to enhance the loan programs of government financial institutions like the Development Bank of the Philippines (DBP) and the Land Bank of the Philippines (LandBank).
BANGKO SA BARYO ACT
The Bangko sa Baryo Act aims to enable banks to expand their service delivery channels through cash agents, particularly in low-income and rural areas, by providing guidelines for their operation and establishing a regulatory framework.
ANTI-UNFAIR DEBT COLLECTION PRACTICES ACT
The Anti-Unfair Debt Collection Practices Act aims to regulate the collection practices of financing and lending companies, prohibiting unethical methods and imposing penalties for violations.
USE OF DIGITAL PAYMENT ACT
The Use of Digital Payment Act aims to promote the adoption of digital payments for financial transactions involving the government and merchants, enhancing efficiency and accessibility in financial transactions.
NEW LAND BANK OF THE PHILIPPINES ACT
The bill aims to provide a new charter for the Land Bank of the Philippines, enhancing its role in agricultural and rural development while repealing certain provisions of the Agricultural Land Reform Code.
THE NEW DEVELOPMENT BANK OF THE PHILIPPINES (DBP) ACT
The bill aims to provide a new charter for the Development Bank of the Philippines (DBP), increasing its authorized capital stock to ₱300 billion and allowing for an Initial Public Offering (IPO) to enhance its financial capabilities and support economic growth.
FAIR DEBT COLLECTION PRACTICES ACT
The Fair Debt Collection Practices Act aims to regulate debt collection practices to protect debtors from abusive, deceptive, and unfair treatment by lenders and debt collectors. It establishes clear definitions, prohibitions against harassment, and guidelines for acceptable debt collection practices.
DIGITAL ASSETS ACT
The Digital Assets Act aims to recognize digital assets and establish a regulatory framework for digital asset enterprises and their operators in the Philippines.
AMENDING R.A. NO. 6426 (FOREIGN CURRENCY DEPOSIT ACT OF THE PHILIPPINES)
This bill amends the Foreign Currency Deposit Act to remove confidentiality for foreign currency deposits held by public officials and employees, aligning with transparency and accountability standards.
DEPOSITS DISCLOSURE ACT
The Deposits Disclosure Act aims to allow the disclosure of bank deposits, repealing existing laws that maintain their confidentiality. It seeks to enhance transparency in financial transactions and combat tax evasion and money laundering.
AMENDING R.A. NO. 1405 (SECRECY OF BANK DEPOSITS LAW)
This bill aims to amend the Secrecy of Bank Deposits Law to exempt government officials and employees from the prohibition against disclosing or inquiring into their bank deposits, promoting transparency and accountability.
OVERSEAS FILIPINO WORKERS (OFWS) REMITTANCE PROTECTION ACT
The Overseas Filipino Workers (OFWs) Remittance Protection Act aims to protect the remittances of OFWs by reducing fees, ensuring transparency in currency exchange rates, and providing financial education to OFWs and their families.
GOVERNMENT OFFICIALS AND EMPLOYEES TO EXECUTE A WRITTEN PERMISSION TO EXAMINE THEIR DEPOSITS
This bill mandates government officials and employees to submit a written permission allowing the Office of the Ombudsman to examine their bank deposits and investments, thereby waiving the Bank Secrecy Law.
PROMOTION OF DIGITAL PAYMENTS ACT
The Promotion of Digital Payments Act aims to promote the use of digital payments for financial transactions by government agencies and merchants, enhancing efficiency and financial inclusion.
PHILIPPINE SCAM PREVENTION CENTER (PSPC) ACT
The bill establishes the Philippine Scam Prevention Center (PSPC) to combat online and digital fraud, providing a framework for coordination among various government and private entities.
STRENGTHENING THE SECRECY OF BANK DEPOSITS LAW
This bill aims to amend the Secrecy of Bank Deposits Law to exclude government officials and employees from its protections, allowing for greater scrutiny of their bank deposits to combat corruption.