Bangko Sentral ng Pilipinas deputy governor Juan de Zuñiga Jr., also its general counsel, sent a lengthy rejoinder to my series on credit card overcharges. I had stated that he treats as case-to-case the many Supreme Court rulings to limit interest to only one percent and penalty to another percent a month. Too, that credit companies, in marketing their product, virtually push the cards into the hands of vulnerable customers. De Zuñiga said in capsule that:
• reference to his “opinion on the SC ruling in Macalinao v. Bank of Philippine Islands (see http://sc.judiciary.gov.ph/jurisprudence/2009/september2009/175490.htm) led to impressions that BSP takes the side of banks and card companies on their collection of interest charges. What I concluded is that aggrieved borrowers can proceed against those who charge iniquitous and unconscionable rates.”
• Too, “since entering into a credit card membership is essentially a contractual transaction, prospective members should first demand prior information on charges collectible, and if they find these terms unreasonable, to reject the membership thereat.”
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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