CREDIT CARDHOLDERS should keep track of the progress of House Bill 1235. Filed by Rep. Arthur Yap, who is on his first term as representative of the 3rd district of Bohol, the bill, if enacted into law, sets a limit on monthly interest for credit card payments to one percent, or 12 percent per annum.
Similarly, penalty charges will also be limited to one percent per month or 12 percent per annum. Any violation will be considered a criminal offense.
While Yap acknowledged that many credit cardholders do not have the discipline to use their cards wisely, the congressman was quoted in newspaper reports as saying credit card issuers imposed “very prohibitive, exorbitant and unconscionable interest rates, penalty and other finance charges.”
Yap explained the urgency of his bill by pointing out that 4 million Filipinos today hold 6.5 million credit cards. He said the number could increase significantly “due to the aggressive marketing of credit card companies that constantly woo customers with promos and other marketing gimmicks.
If passed, Yap’s bill will be known as the “Credit Card Users Protection Act of 2010.” Penalties for violation include imprisonment, a fine of P500,000, and suspension or revocation of business permits. -Linda B. Bolido, Philippine Daily Inquirer
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
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
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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