(MANILA BULLETIN FILE PHOTO)
The House panel, chaired by Quirino lone District Rep. Junie Cua passed the substitute bill on the proposed Cooperative Banking Act, presented by the technical working group tasked to consolidate House Bill Nos. 2435, 7765 and 7878, principally authored by Reps. Sabiniano Canama (COOP-NATCCO partylist), Joy Myra Tambunting (Paranaque 2nd District), and Deputy Speaker Pablo John Garcia (Cebu 3rd District), respectively.
The TWG panel is headed by the Bangko Sentral ng Pilipinas (BSP).
“These three bills deal on the cooperatives bank proposing for the passage of the Charter to govern the registration, regulation and operation of the cooperative banks. Some of them have similar features. Earlier on, we decided that these measures be consolidated into one and we have tasked the Bangko Sentral ng PIlipinas to head the technical working group to thresh out the provisions of this Charter and we found later on that the BSP in consultation with the concerned stakeholders have been doing this for several months and their output is essentially reflected in the desires of the authors,” Cua said.