RA 11597 (Philippine Veterans Bank Act) Section 22

Prohibition Against Charging Fees in Securing Loans; Penalties for Violation.

Section 22

SEC. 22. Prohibition Against Charging Fees in Securing Loans; Penalties for Violation. – No fee, charge or commission in any form shall be exacted, demanded, or paid, for obtaining loans, directly or indirectly, by any director, officer, employee, or agent so exacting, demanding or receiving any fee for the service or for the use of the influence in obtaining a loan shall be punished by a fine of not exceeding One hundred thousand pesos (P100,000.00) or by imprisonment of not more than five (5) years, or both, at the discretion of the court.

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Other provisions in RA 11597 (Philippine Veterans Bank Act)

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationRA 11597 (Philippine Veterans Bank Act) Section 22 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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