CREDIT RATES: Concerned consumers, meanwhile, are asking the House committee on banks and financial institutions to focus on making the terms more equitable for credit cardholders reeling from high prices and costly credit.
On several occasions, consumers have expressed also their desire for the committee to look into interest charges prevailing in the alternative credit market such as pawnshops, small investor lending companies, and informal lenders engaged in “five-six” operation.
Deputy Gov. Nestor Espenilla of the Bangko Sentral told a House committee recently that the amended Usury Law has removed the ceiling on interest rates, effectively leaving the setting of the rates to competing market forces.
He said the Usury Law’s suspension has resulted in the expansion of credit, meaning that more people can now borrow. This indicates that interest rates have been reasonable and generally acceptable to credit cardholders since the law was amended.
Espenilla cited data showing that out of 3 million credit cardholders, only .01 percent has complained to the Bangko Sentral about excessive interest and other charges.–Federico D. Pascual Jr. (The Philippine Star)
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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