The proposed Overseas Filipino Workers Remittance Protection Act would cut remittance fees in half for transfers to immediate family, require money‑transfer firms to display the peso exchange rate, and provide free financial‑literacy training for OFWs and their families. It also sets penalties, including jail time and fines, for firms that mismanage or overcharge on remittances. The Department of Migrant Workers would lead implementation, issuing rules within 90 days of the law’s passage.
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
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HB00275 · Sources: BatasWatch
Similar in what they’d do, filed by any lawmaker.