The bill would cap interest on personal, salary, housing, and other loans at 1 % per month (6 % per year), require lenders to list all costs in the contract, stop professional licenses and criminal penalties from being used against borrowers, and impose fines up to ₱500,000 plus possible loss of business permits for lenders who break the rules.
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
Printed from CivicSync PH: https://civicsync-ph-gamma.vercel.app/bills/HB00572. Status changes over time; check the link for the latest.
HB00572 · Sources: BatasWatch
Similar in what they’d do, filed by any lawmaker.