The Philippine Deposit Insurance Corp. (PDIC) is proposing amendments to rules governing denied deposit insurance claims to ensure that the process of seeking reconsideration is ‘both fair and efficient’.
Among the key enhancements are the expanded coverage of the regulations to address a wider range of cases, the PDIC said in a statement on Monday.
The state deposit insurer is also pushing for refined procedures for the filing of requests for reconsideration (RFR) to make the process more accessible and user-friendly.
The PDIC is likewise proposing defined timelines within which requests must be resolved, ensuring prompt action on claims.
Lastly, the insurer wants a standardized RFR form that aligns with data privacy laws to protect sensitive depositor information.
Stakeholders have until Oct. 15 to submit their comments on the draft rules./tad