Practice question
A bank agent accepts a private fee connected to approval of a bank loan and says only salaried employees are covered by Section 55.1. Which is correct?
- The express agent category defeats that claimed exemption.
- Every agent is immune
- Only the borrower can ever violate any subsection
- Payment method decides whether the statute exists
- A fee label creates an exception
Legal references
- General Banking Law, RA 8791, Sections 3, 55, 87-88 and 92-93: https://lawphil.net/statutes/repacts/ra2000/ra_8791_2000.html
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