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FINANCIAL CONSUMER PROTECTION
FINANCIAL CONSUMER PROTECTION
The Board of Directors and Senior Management anticipate and respond to customer protection risks that may arise from changes in the Bank’s competitive environment and to risks associated with new or changing regulatory or legal requirements.
MCRBi follows key protection principles in building up good relations with its clients. Each principle is embedded in its operations, such as credit extension, deposit taking, and other banking activities involving the participation of its clients. The Bank ensures that the principles are carried out effectively and efficiently by its employees through proper and regular orientation of bank products and services and training on policies and procedures.
The Bank identifies its customer protection risks in each principle by analyzing its effects on the Bank and the customer.
The following are the recognized and identified risks by the Bank under the different principles or protection standards of consumer protection:
1. Disclosure and Transparency
2. Protection of Customer Information
3. Fair treatment
4. Financial Education and Awareness
The Bank has updated its board-approved Financial Consumer Protection (FCP) Manual and continues implementing its Customer Assistance Management Systems (CAMS) bank wide.
The Branch or Blu Customer Assistance Officer (CAO) is identified to be performed by the Branch Manager or Assistant Branch Manager. They are responsible for receiving, acknowledging, and providing the right response to customer concerns, either complaints, inquiries, or requests.
The CAO at each branch or blu submits reports to the Consumer Protection Officer for appropriate action.
Consolidated reports are presented monthly to the President, and a summary of received complaints is reported quarterly through the Audit Committee and submitted to the BSP.
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Head Office Address:
J. M. Kalaw Street, Poblacion 5, Lipa City, Batangas 4217
Email:
kapartner@mcrbi.com.ph
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