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