The Committee on Cooperatives Development, chaired by Rep. Rico Geron
(Party List AGAP) conducted a roundtable discussion on the status of
implementation of RA 9510 with representatives from concerned government
agencies and various cooperatives.
The roundtable discussion aims to better understand the reasons behind
the strong opposition of several cooperatives against the continued
implementation of RA 9510.
Among those who participated in the roundtable discussion were
reprepresentatives from the government agencies such as the Cooperative
Development Authority (CDA), Philippine Competition Commission (PCC),
Securities and Exchange Commission (SEC), and Credit Information
Corporation (CIC); and from various cooperatives which include Baguio
Benguet Community Credit Cooperative (BBCCC), Tabuk City Cooperative
Development Council (CCDC), Federation of Peoples’ Sustainable
Development Cooperative (FPSDC), and Sta. Cruz Savings and
Development Cooperative (SCSDC) RA 9510 aims to establish
a comprehensive and centralized crediit information system for the collection and
dissemination of fair and accurate information in relation to credit and credit
-related activities of all entities participating in the financial system.
The law covers all entities that provide credit facilities, including cooperatives.
Representatives from the various cooperatives present argued that
cooperatives should be excluded from the scope of RA 9510 and that a
separate CIC functioning under the CDA should handle the unique
concerns of the cooperatives. They likewise cited the following reasons for
their strong opposition to the continued implementation of RA 9510:
The law is unconstitutional and violative of RA 10173 or the Data
Privacy Act of 2012 and RA 9520 or the Philippine Cooperative
Code of 2008;
There was no proper consultation made with concerned
stakeholders prior to the promulgation of the law’s implementing
rules and regulations (IRR);
Cooperatives find the law’s requirements too complicated to
The law’s penalty provision is not acceptable to cooperatives.
CIC Chief Executive Officer (CEO) Jaime Garchitorena said that he is not
in a position to interpret the constitutionality and legality of RA 9510. But he
noted that most of the points presented by cooperatives against the law
are just misconceptions as he explained that both RA 9520 and RA 9510
were enacted during the same Congress, making it unlikely that
contradictions between these two laws would have gone unnoticed.
Garchitorena said that the CIC is willing to assist the cooperatives in
complying with the requirements under RA 9510. He added that the CIC
has not sanctioned any violator at this point in time, with CIC being more
inclined towards assisting cooperatives than penalizing them.
SEC Chairperson Teresita Herbosa clarified that the IRR of RA 9510 was
promulgated by the Joint Oversight Committee created for the purpose,
composed of seven Senators and seven House Members. Thus, Herbosa
opined, amending the IRR will require an act of Congress to revive the
Rep. Anthony Bravo (Party List, COOP NATCCO) recommended the filing of
a resolution that will revive the said oversight committee that will amend
the IRR of RA 9510. (END).
(Excerpts from House Committee Daily Bulletin Vol. 1 No. 30