Employer's liability for negligence of employee driver
Dear PAO,
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Banks must disclose pre-payment costs
Dear PAO, Do banks have an obligation to disclose not only the terms of a loan but also other aspects, such as the costs of pre-paying a loan? My brother, a fisherman, obtained a loan from a bank in our province. He only has a few months of amortizations left until he pays off his loan, so he is contemplating pre-paying his loan balance and has asked me if I can help him with it. But we were told by the bank employee that he would have to pay P25,000 if he pushed through with the pre-payment. This was not disclosed to him when he secured the loan. Isn't it also that banks should not discriminate against anyone? We feel that, just because my brother is a fisherman, the bank employees are giving him a very difficult time and purposely withholding important information, such as the costs of pre-payment of loans. Ester Dear Ester,
