Banking isn't just any other business. Its role in facilitating the business of the nation means that when banking goes seriously astray, the economy suffers more badly than it would if, say, the retailing industry got into trouble (as serious as the latter would be).
The success of digitalization initiatives rests upon ensuring that consumers are protected online and that they have adequate financial and digital literacy. Accordingly, the BSP has actively supported the proposed Financial Consumer Protection Act (FCPA). The bill is now awaiting signature of President Rodrigo Duterte.