Philippine Credit Card Industry Regulation Law

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Republic Act No. 10870: Philippine Credit Card Industry Regulation Law

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Title Source: Supreme Court: Philippine Credit Card Industry Regulation Law

Law: Republic Act No. 10870

Decision Date: Jul 17, 2016

The Philippine Credit Card Industry Regulation Law grants the Bangko Sentral ng Pilipinas (BSP) the authority to regulate and supervise credit card issuers and acquirers, establish minimum requirements for risk management systems, and prohibit harassment and unfair practices in debt collection, with administrative and criminal sanctions for violations.

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