Answer in own words. Construct in paragraph form.

Country: Philippines

PDIC:

1. What is an insured deposit?
2. What is the rule on joint account?
3. What is the rule on "by" and "in trust for -ITF" account?
4. What is an assessment rate?
5. What are the available mode of payments of insured deposit by the PDIC?

Truth in lending act:

1. What is the purpose of the law?
2. What are the obligations of the creditor towards debtor?
3. What is the effect of failure of the creditor to comply with the requirements of the law with respect to the debt?
4. What is the penalty for non-compliance?
5. What does TILA promote?

Secrecy of bank deposit:

1. What are the main purposes of the law?
2. What are the prohibited acts in violation of bank secrecy law?
3. Who are authorize to inquire on bank deposits?
4. Can the ombudsman issue an order to investigate and inquire on bank deposits of a private individual?
5. What is the scope of the BIR in its power to inquire into bank deposits?