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The Philippine Competition Act, officially designated as Republic Act No. 10667, is a Philippine law that was signed into law by President Benigno Aquino III on July 21, 2015, and established the quasi-judicial Philippine Competition Commission to enforce the act.
In addition, the official website states that in its capacity as a regulatory body, the Philippine Competition Commission helps protect markets in the Philippines from anti-competitive behavior, thereby protecting consumers from having their choices unfairly limited by companies that seek to severely limit these choices in order to increase ...
RCBC Credit Cards (previously RCBC Bankard (PSE: BKD)) is one of the largest credit card issuers in the Philippines, issuing VISA, MasterCard, JCB and UnionPay (CUP) credit cards. In the 1990s, they also issued their line of credit and debit cards.
A credit limit is the maximum amount of credit that a financial institution or other lender extends to a debtor on a particular credit card or line of credit. Lenders generally set limits based on specific information about credit-seeking applicants, including income and employment status.
Equitable PCI Bank, Inc. (PSE: EPCI) was one of the largest banks in the Philippines, being the third-largest bank in terms of assets. It was the largest bank before it was overtaken by Metrobank in 1995. It is the result of the merger of Equitable Banking Corporation and Philippine Commercial International Bank or PCIBank.
The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks.As of September 30, 2022, [1] there were 45 universal and commercial banks, [2] 44 savings banks, [3] 400 rural and cooperative banks, [4] 40 credit unions and 6,267 non-banks with quasi-banking functions, all licensed by the Bangko Sentral ...
In 1921, the national bank experienced near-bankruptcy due to mismanagement and weak American colonial structure. Due to the Wood-Forbes report, Venancio Concepcion, the bank's president, was indicted for corruption. The national bank's financial mess resulted to the 1921 financial crisis of the Philippines. [6] [7]
The Credit Information Corporation (CIC) is a government-owned and controlled corporation providing credit information system in the Philippines.It was created in 2008 by the Credit Information System Act (CISA) to construct a centralized, comprehensive credit information system for the collection and dissemination of accurate and fair information relevant to, or arising from, credit and ...