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.”
Nov 16 – International Day for Tolerance
“No more toleration of corruption!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
November
Nov 2 – Intl Day to End Impunity for
Crimes Against Journalists
Nov 9 – World Science Day for Peace
and Development
Nov 16 – International Day for Tolerance
Nov 19 – World Toilet Day
Nov 20 – World Children’s Day
Nov 25 – Intl Day for the Elimination of
Violence Against Women
Monthly Observances:
Homes Safety Month
Filipino Values Month
National Rice Awareness Month
National Consciousness Month
for Punctuality and Civility
Environmental Awareness Month
National Children’s Month
Organic Agriculture Month
Weekly Observances:
Nov 19-25: Global Warming and
Climate Change Consciousness Week
Nov 23-29: National Girls’ Week
Population and Development Week
Nov 25 – Dec 12: Social Welfare Week
18-Day Campaign to End
Violence against Women
Week 2: Week 3: Drug Abuse Prevention
and Control Week
Last Week: Safety and Accident
Prevention Week
Daily Observances:
Last Saturday: Career Executive Service
Day
Nov 19: National Child Health Day
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