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What is Banco Filipino Loan Interest Dispute about?

This document summarizes a court case between Banco Filipino Savings and Mortgage Bank and Calvin and Elsa Arcilla regarding loans and foreclosure on property. The key details are: - Calvin and Elsa Arcilla took out multiple loans from Banco Filipino totaling around $107,000, secured by mortgages on their property. - In 1976, a Central Bank circular set the maximum interest rate on long term loans at 19% annually. Banco Filipino unilaterally raised the Arcilla

Author

Jui Aquino Provido

Language

EN