HB 6707: An Act Promoting Transparent Governance and Instituting Anti-Corruption Mechanisms in the Operation of Banks, 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 bill makes government deposits confidential, but lets the central bank investigate them if it suspects fraud, and it sets prison and fine penalties for anyone who breaks the new rules.

Government AdministrationPublic Order and SafetyBusiness, Trade and Industry

Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.

Official sources

Similar in what they’d do, filed by any lawmaker.

SB 1649· Filed Jan 7, 2026
Amending R.A. No. 1405 (The Secrecy of Bank Deposits Law)
Consolidated/substituted in the committee reportSen. Raffy T. Tulfo
SB 1047· Filed Aug 6, 2025
Amending Sec. 2 of R.a.. No. 1405 (Secrecy of Bank Deposits Law)
Consolidated/substituted in the committee reportSen. Jinggoy Ejercito Estrada
HB 4388· Filed Sep 8, 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"
Substituted by HB06707Rep. Bryan B. Revilla +2
HB 7859· Filed Feb 18, 2026
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�
Pending with the Committee on BANKS AND FINANCIAL INTERMEDIARIES since 2026-02-23Rep. Eric Go Yap
HB 9159· Filed May 7, 2026
An Act Providing Exceptions to the Confidentiality of Bank Deposits for Public Officials, Amending for the Purpose Republic Act No. 1405, Otherwise Known as the �secrecy of Bank Deposits Law,� Requiring the Disclosure and Verification of Certain Bank Deposits and Investments of Such Officials, and Prescribing Penalties for Violations Thereof
Pending with the Committee on BANKS AND FINANCIAL INTERMEDIARIES since 2026-05-12Rep. Elijah Rumbaoa San Fernando

HB 6707

An Act Promoting Transparent Governance and Instituting Anti-Corruption Mechanisms in the Operation of Banks, 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”

Authors · 39 Representatives

In plain language

Authors · 39 Representatives

Official sources

An Act Promoting Transparent Governance and Instituting Anti-Corruption Mechanisms in the Operation of Banks, 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”

Authors · 39 Representatives

In plain language

Authors · 39 Representatives

Official sources

Related bills · 20th Congress

Related bills · 20th Congress