About this document

Reimposing the Usury Law in the Philippines by Bory Sanots is a document available to read on EtoBox.

This document is an explanatory note for a proposed bill in the Philippine Senate that aims to re-impose a ceiling on interest rates for loans and debts by amending the existing Usury Law. It discusses how charging excessive interest rates has long been seen as oppressive. It proposes to set maximum interest rates of 12-16% annually for most loans, with some allowances for rates up to 3 percentage points above treasury bill rates. The goal is to help desperate borrowers while discouraging predatory lending

Author

Bory Sanots

Language

EN