BSP approves 3% cap on credit card rate

THE Monetary Board decided to adjust the ceilings on credit card transactions by increasing the maximum interest rate or finance charge imposed on a cardholder’s unpaid outstanding credit card balance by 100 basis points (bps) or from two percent to three percent per month. Meanwhile, the existing ceiling on the monthly add-on rate that credit […]

Regulator orders PhilHealth to detail impact of rate hike freeze

THE regulator for state-owned firms has ordered the Philippine Health Insurance Corp. (PhilHealth) to submit an analysis of how a hike suspension will affect its financial standing and operations.   The Governance Commission for GOCCs (GCG), which oversees government-owned and -controlled corporations (GOCCs), “strives to ensure that the GOCC sector, in this case PhilHealth, is fully […]

Solon calls for suspension of SSS, PAG-IBIG rate hike after PhilHealth

AN OPPOSITION lawmaker on Tuesday called on Malacañang to suspend the scheduled contribution rate hikes for the private sector pension fund and the shelter financing fund, following the deferment of health insurance contribution increase.   House Deputy Minority Leader Rep. France L. Castro said the Social Security System (SSS) and the Home Development Mutual Fund or […]