President Benigno Aquino III said that the creation of a Credit Card Information Bureau may solve the numerous complaints against credit card companies exacting high interest rates on credit-card users.

Presidential Spokesperson Edwin Lacierda said yesterday that during Aquino’s meeting with the Asian Development Bank Board of Directors, he emphasized the credit responsibility and better identity of credit card holders rather than on tax reduction for credit card holders.

Lacierda said the idea of tax reduction for credit card holders was brought out by one of the ADB Board of Directors during the meeting with Aquino.

“It is not something we are looking at right now but rather on the creation of a credit information bureau and emphasis on responsibility of card holders,” he said.

Lacierda added that among other things, Aquino and the ADB officials discussed good governance, anti-corruption efforts, anti-poverty measures, fiscal management policy, and judicial reforms.

He also said that Aquino thanked the ADB for its continued support to the conditional cash transfer program and the public-private partnership program.*PNA

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