EFFECT OF FAILURE TO ABIDE BY THE REQUIREMENTS OF THE LAW [Sec. 6, RA 3765]

1. A creditor who fails to disclose to any person any information in violation of the Act or any
of its regulations shall be liable to such person in the amount of P100 or in an amount equal to twice the finance charged required by such creditor in connection with such transaction, whichever is the greater,
except that such liability shall not exceed P2,000 on any credit transaction
2. A Creditor shall be liable for reasonable attorney’s fees and court costs as determined by the court
3. Any person who willfully violates any provision of the Act or any of its regulations shall be fined by not less than P1,00 or more than P5,000 or imprisonment for not less than 6 months, nor more than one year or
both
4. No punishment or penalty provided by the Act shall apply to the Philippine Government or any agency or any political subdivision thereof

PRESCRIPTIVE PERIOD WITHIN WHICH A DEBTOR MAY RECOVER [Sec. 6(a), RA 3765]

Action to recover such penalty may be brought by borrower within one year from the date of the occurrence of the violation, in any court of competent jurisdiction

EFFECT OF A FINAL JUDGMENT ON THE CREDITOR

A final judgment hereafter rendered in any criminal proceeding under this Act to the effect that a defendant has willfully violated this Act shall be prima facie evidence against such defendant in an action or proceeding brought by any other party against such defendant under this Act as to all matters respecting which said judgment would be an estoppel as
between the parties thereto.

OFFICERS TASKED WITH ENFORCING THE PROVISIONS OF THE LAW [Sec. 1, CB Circ. 431]
1. Central Bank (now Bangko Sentral ng Pilipinas) and its offices;
2. Department of Commercial and Savings Banks, with respect to commercial, savings
and development banks, and building and loan associations
3. Department of Rural Banks and Savings and Loan Associations, with respect to rural
banks and savings and loan associations
4. Office of Non-Bank Financial Intermediaries, with respect to non-bank financial
institutions and other persons, whether natural or juridical, covered by the Act and
not otherwise assigned to the above departments