Banks must abandon unfair tactics

From April 1, gone are the penalties most banks levied on customers for not giving a full 90-day notice of intention to settle loans early.

But as the champagne flows, it would be prudent for the central bank's supervisory department to investigate what is likely to be sector-wide 'indiscretions' regarding charges in the banking system.  It boggles the mind how the country's 12 banks - which already hold P27 billion in loans, most of them from individuals - were allowed to add another premium on these assets in the form of the heavy penalties which were on top of the interest already accruing.