Republic Acts - AN ACT TO REQUIRE THE DISCLOSURE OF FINANCE CHARGES IN CONNECTION WITH EXTENSIONS OF CREDIT.

[ republic act no. 3765, june 22, 1963 ] AN ACT TO REQUIRE THE DISCLOSURE OF FINANCE CHARGES IN CONNECTION WITH EXTENSIONS OF CREDIT. Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Pursuant to Monetary Board Resolution No. 356 dated 27 March 2008, all banks and financial institutions under BSP supervision are hereby enjoined to strictly comply with the provisions of R.A. No. 3765, otherwise known as the "Truth in Lending Act" as provided in Sec. X307 of the Manual of Regulations for Banks (MORB) and Sees. 4309Q, 4101N and ...

The Act requires creditors to fully disclose all costs related to a credit transaction to enable the public to know the true cost of a credit.

(a) Any creditor who in connection with any credit transaction fails to disclose to any person any information in violation of this Act or any regulation issued thereunder shall be liable to such person in the amount of P100 or in an amount equal to twice the finance charged required by such creditor in connection with such transaction, whicheve...

2007年10月8日 · Republic Act No. 3765, also known as the “Truth in Lending Act”, is a law requiring the disclosure of finance charges in connection with the extension of credit. This is a summary of the Truth in Lending Act.

Republic Act No. 3765, the Truth in Lending Act, ensures credit cost disclosure. Learn about creditor responsibilities and penalties.

2008年8月29日 · AN ACT TO REQUIRE THE DISCLOSURE OF FINANCE CHARGES IN CONNECTION WITH EXTENSIONS OF CREDIT. Section 1. This Act shall be known as the "Truth in Lending Act." Section 2. Declaration of Policy.

The Truth in Lending Act is a Philippine law that requires creditors to provide clear written statements to borrowers, disclosing the true cost of credit, in order to protect citizens from uninformed use of credit that may harm the national economy.

Republic Act No. 3765 Also Known As Truth in Lending Act Long Title An Act To Require The Disclosure Of Finance Charges In Connection With Extensions Of Credit Approval Date June 22, 1963