Bangko Sentral ng Pilipinas
The Bangko Sentral ng Pilipinas (BSP) has ordered financial institutions that have yet to comply with its fair-pricing rules for digital fund transfers to explain their noncompliance, warning that they may eventually face penalties.
Speaking to reporters on Tuesday, BSP Deputy Governor Mamerto Tangonan said the central bank had invited “several” financial institutions to a meeting this week to discuss their compliance with the regulations.
The firms include those that have yet to reduce their fund transfer fees, as well as those whose charges have been reduced but remain above levels the BSP considers reasonable and fair.
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