Business
BSP Tightens Consumer Protection Oversight for Financial Institutions
The Bangko Sentral ng Pilipinas (BSP) will implement risk-based consumer protection supervision for banks and non-bank e-money issuers starting January 1, 2027. Institutions with significant consumer reach or weaker risk controls will face intensified scrutiny.
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- BSP to Enhance Oversight of Financial Institutions
The Bangko Sentral ng Pilipinas (BSP) is set to implement a new risk-based supervisory model to strengthen oversight of banks and e-money issuers, based on their potential impact on consumers and risk management capabilities. The model, effective January 1, 2027, aims to further enhance consumer protection.