Truth in Lending Act (2012 Update)

Stricter guidelines implementing the Truth in Lending Act took effect on Monday, July 2, 2012, the Bangko Sentral ng Pilipinas announced earlier.

The modified and updated rules enhance transparency on loan transactions extended by banks and non-bank financial institutions.

For information dissemination and reference purposes, you can download this copy of BSP Circular No. 755, series of 2012.

Subject of which are the implementing guidelines of RA 3765 or the Truth in Lending Act to entities with credit-granting facilities not covered by exisiting issuances by the BSP, Securities and Exchange Commission (SEC), Insurance Commission (IC), and the Cooperative Development Authority (CDA).

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