Manila, April 16 -- Senator Joel Villanueva on Thursday urged banks to strictly implement relief measures allowed by the Bangko Sentral ng Pilipinas (BSP), including loan payment grace periods and the waiver of digital transfer fees, amid rising energy costs.

Villanueva said the BSP's latest policy move should go beyond temporary relief, stressing the need to institutionalize consumer protections to shield Filipinos from recurring economic shocks.

"The BSP is doing exactly what a responsible central bank should do in a crisis, making it easier, not harder, for ordinary Filipinos to move money," he said.

"We cannot keep relying on emergency waivers and moral suasion. Consumers deserve protection that does not disappear when the crisis p...