Thrift banks seek tighter rules on salary loans

MANILA, Philippines – The thrift banking industry is exploring tighter rules on salary lending, including limiting longer repayment terms to loans taken out for emergencies, as lenders seek to prevent consumers from taking on unsustainable debt. The proposal comes after the Bangko Sentral ng Pilipinas (BSP) extended the maximum repayment period for salary loans to seven […]...

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