-
Aug 11 2020 
BIG BUZZ: Courting a Financial Crisis
What can turn this coronavirus pandemic into a financial crisis? A populist legislation can, especially when it obliges all lenders to extend a yearlong grace period to all borrowers.
Section 3 of House Bill No. 6953—the so-called Bayanihan 2 bill—proposes that a 365-day moratorium on loan and interest payments be enforced in any area under any…
-
Aug 11 2020 
365-day debt moratorium excessive, to harm both FIs, borrowers–fintech group
THE yearlong grace period for loan and interest payments proposed under the Bayanihan to Recover as One Act Part 2 or Bayanihan II may do more harm for both the financial institutions and borrowers than relief, a financial technology group said. In a position paper submitted to the bicameral committee on Tuesday, Fintech Alliance.ph said that…
