^

Headlines

'5-6' loan sharks can be arrested without warrant — Aguirre

Christopher Lloyd Caliwan - Philstar.com
January 10, 2017 | 9:32pm
'5-6' loan sharks can be arrested without warrant â Aguirre
Earlier, President Rodrigo Duterte said the “5-6” scheme has become a burden to Filipinos, especially for those who have no other resort.
File
MANILA, Philippines (Philippines News Agency) — Justice Secretary Vitaliano Aguirre II on Tuesday said that persons especially Indians engaged in the lending business more commonly known as “5-6” would be arrested even without a warrant of arrest.
 
In a press briefing, Aguirre said the interest in the “5-6” lending activity is legal after the repeal of the Usury Law and the removal of interest ceilings.
 
But the Department of Justice secretary said operating a lending business requires a permit and other requirements.
 
“Pinapahuli ni presidente mga bumbay (Indians) na nagpapa 5-6, kawawa [naman ang] mahihirap [sa] 20 percent na taas [ng interest]. They could be arrested without any warrant. When they're doing that they’re committing a crime,” he told reporters.
 
The government will push for the implementation of the nationwide micro lending program to address the “5-6” loaning business.
 
Earlier, President Rodrigo Duterte said the “5-6” scheme has become a burden to Filipinos, especially for those who have no other resort.
 
Many micro, small and medium enterprises usually resort to “5-6” lenders who are usually Indians.
 
The president said Filipinos had been experiencing such conditions but it had not been noticed for a long time.

PRESIDENT RODY DUTERTE
Philstar
  • Latest
  • Trending
Trending
Latest
Trending
abtest
abtest
Senator wants to increase OVP budget

Senator wants to increase OVP budget

By Marc Jayson Cayabyab | 11 hours ago
Sen. Joel Villanueva yesterday said he would support calls in the Senate to augment the approved P733.2-million budget of...
Headlines
fbtw
VP Sara's unauthorized stay caused House personnel to work overtime – official

VP Sara's unauthorized stay caused House personnel to work overtime – official

By Cristina Chi | 16 hours ago
House of Representatives personnel had to extend their working hours and adjust building management protocols after Vice President...
Headlines
fbtw
Bato eyes SC relief if ICC issues warrant

Bato eyes SC relief if ICC issues warrant

By Janvic Mateo | 11 hours ago
Sen. Ronald dela Rosa has confirmed his plan to seek judicial relief from the Supreme Court if the prosecutor of the International...
Headlines
fbtw
Fuel prices going up again next week

Fuel prices going up again next week

By Brix Lelis | 11 hours ago
Pump prices of petroleum products are expected to increase again next week, marking the fourth hike in five week
Headlines
fbtw
Lawyers required to render 60-hour pro bono service

Lawyers required to render 60-hour pro bono service

By Christine Boton | 11 hours ago
The Supreme Court has approved the Unified Legal Aid Service rules, requiring all covered lawyers to render 60 hours of pro...
Headlines
fbtw
Latest
abtest
PAGASA forecasts fair, hot weather

PAGASA forecasts fair, hot weather

By Romina Cabrera | 11 hours ago
Fair and hot weather is forecast for Metro Manila and most parts of the country today, according to the Philippine Atmospheric,...
Headlines
fbtw

ASEAN defense chiefs push for SCS Code of Conduct

By Michael Punongbayan | 11 hours ago
Defense chiefs of all 10 member-states of the Association of Southeast Asian Nations have renewed their commitment to work together “in a constructive and peaceful manner to maintain the South China Sea as...
Headlines
fbtw

Government execs helping POGOs operate underground

By Marc Jayson Cayabyab | 11 hours ago
Sen. Risa Hontiveros has sounded the alarm that certain government officials are in cahoots with Philippine offshore gaming operators so they could go underground and skirt President Marcos’ ban.
Headlines
fbtw
Pasig court extends Quiboloy’s medical furlough

Pasig court extends Quiboloy’s medical furlough

By Emmanuel Tupas | 11 hours ago
Controversial evangelist Apollo Quiboloy is back in the hospital today after a Pasig court granted his request for an extension...
Headlines
fbtw
P137.6 billion in benefits paid this year – PhilHealth

P137.6 billion in benefits paid this year – PhilHealth

By Rhodina Villanueva | 11 hours ago
The Philippine Health Insurance Corp. paid a total of P137.6 billion in benefit claims to more than 12,000 accredited health...
Headlines
fbtw
Recommended
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with