MANILA, Philippines—Government regulatory agencies will have to unify efforts to protect Filipino consumer rights under a proposed law meant to pave the way for dispute resolution between retail companies and their clients.
At an online press briefing, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said the BSP was advocating passage of the proposed Financial Consumer Protection Act which strengthens collaboration among regulators in promoting the welfare of financial consumers.
“This measure enhances the authority of regulators to protect the interest of financial consumers,” he said. “This is seen to instil discipline among financial service providers, boost public conf…
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