Buenaventura, Anne Marieline C.

Sec-18

1. PDIC offers a maximum of PhP 500,000 per borrower for every branch in savings
insurance coverage. It includes any bank deposit made at an institution, whether it is in a
national or international currency. A borrower must add up all their bank deposits that are
kept in the same capacity and privilege but a defunct institution.

2. The optimum covered by insurance disbursement generally is transferred into as many

equal portions as there are individual people, legal and political people, or organizations
unless a distinct inclusion is specified in the memorandum of deposit if the account is
kept collectively by two or more individual citizens, or by two or more quasi-judicial
people or organizations. 

3. Accounts held in Trust For (ITF). The accountholder retains the right to shut down,
suspend, assign, mortgage, or obstruct ITF accounts created by them for the advantage of
a third party(ies) (the "beneficiary(ies)") without their knowledge or agreement. In the
event of the accountholder’s passing, the beneficiary(ies) shall be entitled to the
remaining balance of the Deposit Account, provided that the beneficiary(ies) complies
with all BANK obligations and pays any duties that may be payable on the Deposit
Account.

4. The assessment rate, which ranges from zero to one hundred percent, accounts for
variables that might affect the worth of houses in a specific location.

5. Money is paid via postal payment orders (PMOs) to account holders who meet the
following criteria: have legitimate fund account balance of PhP100,000.00 or less; have
up to date contact information in the closed lender's archives; or have modified their
identifiers via the PDIC's Mailing Address Update Form (MAUF); are not partners of the
debtors; and have not preserved the account in the names of commercial enterprises.
These depositors receive their money in whole and are not required to submit
applications for deposit insurance.

6. The Truth in Lending Act protects you from unscrupulous and inaccurate credit billing
and credit card activities (TILA). It requires lenders to provide you with information on
lending prices so you can compare different loans.

7. Prior to each credit transaction, a debt collector must give the lender a straightforward
written statement of the relevant details: the quantity of the personal loan provider
granted; any down payment or barter created; independently enumerated costs, fees, and
other related expenses; the entire quantity to be funded or amount of funding enlarged;
the involvement or financial management fee to be compensated, expressed as follows of
pesos and centavos; and the proportion that the interest or finance cost will be charged to
the loan's outstanding sum or credit. Simple yearly rates must be used to calculate the
interest.
Buenaventura, Anne Marieline C.
Sec-18
8. A minimum P1,000 penalty or more than P5,000 or a sentence of at least six months in
jail, more than a year, or both, may be imposed on anybody who wilfully breaches any
provision of this Act or any rule made according to it.

9. Failure to comply will result in a fine of at least P1,000 or more than P5,000, a term of
incarceration of at least six months or more than a year, or both.

10. When interacting with creditors and lenders, individuals are safeguarded under the Truth
in Lending Act (TILA). The TILA covers most consumer credit types, including shut and
accessible credit. The TILA controls the details that borrowers must disclose to
customers about their services and goods.

11. The "Secrecy of Bank Deposits Law," also known as Republic Act No. 1405, was passed
in 1955 to provide individuals to accumulate their money in financial institutions and
discourage private possession so that it could be used appropriately by banks in the form
of approved loans to facilitate the growth of the nation.

12. Any staff or representative of a banking institution who divulges data about said deposits
to someone besides those listed in Section 2 of this agreement violates the law. Upon
punishment for any infraction of this legislation, the culprit faces a fine of up to 20,000
pesos and five years in jail, depending on the judge's discretion.

13. Suppose there is reason to believe that the transactions are connected to illegal behavior
or a money laundering violation. In that case, the Anti-Money Laundering Council
("AMLC") may inspect bank accounts per a court injunction.

14. Yes. Investigation and prosecution of any public employee's action or default that
purports to be unlawful, unfair, inappropriate, or ineffective, whether on its initiative or
in response to a complaint from a third party is one of their duties.

15. With prior notice to impacted taxpayers, discussion with qualified assessors from the
public and private sectors is one of their scopes.