HB 1786
House·20th Congress·Filed Jul 10, 2025
An Act Promoting Transparent Governance and Instituting Anti-Corruption Mechanisms in the Operation of Banks and Other Financial Institutions, Amending for the Purpose Republic Act No. 1405, Entitled "An Act Prohibiting Disclosure of or Inquiry Into, Deposits with Any Banking Institution and Providing Penalty Therefor"
In plain language
The proposal would let the central bank (BSP) examine bank deposits of certain persons without the depositor’s consent when there is reasonable suspicion of fraud or illegal activity, while keeping the results confidential except for specific law‑enforcement agencies, and it shields banks from liability when they comply.
Government AdministrationPublic Order and SafetyJustice and Judiciary
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
Authors · 4 Representatives
Official sources
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HB01786 · Sources: BetterGov Open Congress, BatasWatch