BSP eyes risk-based framework to assess banks’ ability to protect their customers

THE BANGKO SENTRAL ng Pilipinas (BSP) is proposing a risk-based framework for its assessment of financial institutions’ ability to safeguard consumer rights as part of the implementation of the Financial Products and Services Consumer Protection Act. The central bank is looking to adopt the Financial Consumer Protection Risk-and-Impact Supervisory Model (FCPRISM) that will cover its […]