Photo Release

Protecting financial consumers: Senate Majority Leader Juan Miguel “Migz” F. Zubiri, during a virtual hearing of the Committee on Banks, Financial Institutions and Currencies Monday, January 17, 2022, calls on his colleagues and other concerned agencies to support the proposed measures seeking to provide protection to financial consumers. Zubiri, author of Senate Bill No. 534 or the Financial Consumer Protection Act, said the technologically-driven globalized age has drastically altered the methods of consumption, that is why there is a need to strengthen the country’s regulatory powers in the financial service arena to protect the interest of consumers. “To this end, the bill seeks to invest in rule making, surveillance and inspection, market monitoring, and enforcement powers to the nation's financial regulators, namely the Bangko Sentral ng Pilipinas, the Securities and Exchange Commission, and the Insurance Commission,” Zubiri said. (Screen grab/Senate PRIB)