Joseph Albert A. Gamboa | 29 October 2021
THE proposed Financial Consumer Protection (FCP) Act has been pending in the House of Representatives for almost two years. Known as House Bill (HB) No. 6143, it was filed in February 2020 by Quirino Rep. Junie Cua, chairman of the House Committee on Banks and Financial Intermediaries. The bill seeks to provide government financial regulators with additional powers to protect the interest of consumers amid the growing complexity of financial products and services.