These treatments are often sanctified by the terms and conditions imposed when an account holder opens an account. But in signing the contract, customers are not as empowered or as cautious as they should be. This could be due to several reasons, among them the prevalence of nonstandard contracts that make comparison of competing products difficult and tend to dampen competition.
Amando M Tetangco, Jr: The Philippines – creating opportunities through effective governance Speech by Mr Amando M Tetangco, Jr, Governor of Bangko Sentral ng Pilipinas (the central bank of the Philippines), at the Philippine Mid-Year Economic Briefing 2010, Makati City, Metro Manila, 18 August 2010.