HC Consumer Finance Philippines, Inc. - Authority to Operate as a Credit Card Issuer
E]ANOKO SENTRAL NG) PIUIEINAS OFFICE OF THE DEPUTY GOVERNOR FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL _2OL9 - OO8 TO All BSP-supervised Financial lnstitutions SUBJECT HC Consumer Finance Philippines, Inc. - Authority to Operate as a Credit Card lssuer The Monetary Board (MB), in its Resolution No. 1773 dated 25 October 2Ot8 granted authority to the HC Consumer Finance Philippines, lnc. (HCPH) to operate as a credit card issuer. HCPH is the first stand-alone non-bank financial institution to apply for a credit card license acted upon by the MB pursuant to Republic Act (R.A) No. 10870, otherwise known as An Act Regulating the Philippine Credit Card Industry and its lmplementing Rules and Regulations (lRR) under Circular No. 1003 dated 16 May 2018. The corresponding Certificate of Authority to Operate as a Credit Card lssuer was issued by the Bangko Sentral ng Pilipinas on 21 November 2018. HCPH started its credit card operations on 2L November 2018. For information and guidance. STITUTO C. CRU Sector-in-Char {January 2019 File/Ref No. FSD9-201901-0165-G3D9-CL
More in BSP Circular Letters
- Cancellations or non-delivery of outstanding forward sales contracts(BSP Circular Letter)
- Publication/Posting of Balance Sheet (BS)(BSP Circular Letter No. CL-2020-024)
- Publication of Statements of Condition (Solo and Consolidated) as of 28 March 2005 - Thrift Banks(BSP Circular Letter)
- Processing Fee for Importations under Documents Against Acceptance (D/A) and Open Account (O/A) Arrangements with maturities exceeding one (1) year(BSP Circular Letter No. CL-2009-071)
- Revocation of License to Operate as an NSSLA of Savings and Loan Association of Mataasnakahoy, Inc.(BSP Circular Letter No. CL-2016-094)
- Anti-Money Laundering Council (AMLC) Resolution No. 05, Series of 2016(BSP Circular Letter No. CL-2016-011)
- Lost registration documents(BSP Circular Letter No. CL01191995)
- Delisting of Socialist and other Centrally-Planned Economy Countries from List of Countries covered by the Philippine International Trading Corporation (PITC) under LOI 444(BSP Circular Letter No. CL08131992)
Want an analysis of this document?
Ask ASG Legal AI to summarize it, compare it with other rulings, or explain how it applies to your situation — it researches from this same library.