US tightens rules on remittances to protect senders (Philippines)

  ABS-CBN's News Report,

The federal Consumer Financial Protection Bureau (CFPB) last month ordered money remittance firms to disclose upfront all the fees they charge customers – one in a slew of new rules to oversee the multi-billion money transfer business.

The rules won’t be enforced until next year but will have a major impact on Filipinos in the United States, who sent home nearly $8 billion (about P330 billion) in 2011, posting one of the most robust increases in decades.

Image Credit: opinion-maker.org

"With these new protections, international money transfers will be more reliable,” the bureau’s newly appointed director Richard Cordray said. “Consumers will know the costs ahead of time and be able to compare prices. Transfer providers will also be held accountable for errors that occur in the process." 

Most of the money remittance companies that have predominantly Filipino clients appear to be already practicing the new rules.

"People sending money to their loved ones in another country should not have to worry about hidden fees," Cordray said.

The new rules require money remittance companies to disclose to customers any fees, theexchange rate and the amount that will be paid to the recipient in local currency. They also stipulate that customers must be given 30 minutes to cancel a transaction.

In addition, money remittance companies are bound to investigate all complaints, such as funds not reaching recipients.

Western Union spokesman Tom Fitzgerald said the company plans to be compliant with the rules by the effective date.  He said the company already provides customers with disclosures on fees, exchange rates and payouts.

"We agree that consumers will benefit if all remittance providers are held to the same requirements," he said.

The Bangko Sentral ng Pilipinas (BSP) reported that total dollar remittances from overseas Filipinos reached $18.3 billion from January to November 2011, a 7.31 percent rise over the same period in 2010.

Of that amount, $7.7 billion came from Filipinos in the US, a 7.46 percent increase. The November figure nearly matches total remittances from the US for the whole of 2010 which reached $7.8 billion. Remittances back to the Philippines usually peak during the Christmas holidays.

Bank officials in Manila said more remittances allow for greater consumer spending that makes up partly for poor exports. Foreign remittances account for about 10 percent of the Philippine economy.

The CFPB was created as part of financial reforms following the Wall Street crisis in 2008. Cordray was appointed the bureau’s first director earlier this month, a move that drew criticisms from Republican members of Congress opposed to the CFPB.

Republican lawmakers fear the agency would be too powerful but with very little accountability.

International money transfers have never been subject to federal consumer regulations until this month.

source:  ABS-CBN News

DOT : What It Should Do To Make New Campaign 2012 Even Better (Philippines)

The Department of Tourism has launched a new brand campaign to attract visitors to the country with the line - It’s more fun in the Philippines.

Image Credit: ourawesomeplanet.com

We support it and to show our support, we would like to give suggestions on how the DOT can make the campaign even better.

But before anything else, here’s a press release from the DOT’s official website which explains the rationale behind the new campaign.

Focusing on the country’s core strength, the campaign singles out what no other destination can offer - and that is the Filipino people.

For example, the Lonely Planet guidebook calls Filipinos ‘among the most easygoing and ebullient people anywhere.’

“Our strategy is simple: while other countries invite you to observe, Filipinos can promise a more heartfelt and interesting experience. Wherever you go, whatever you do in the country, it’s the Filipinos that will complete your vacation and will make your holiday unforgettable,” says the new Tourism Secretary, Ramon Jimenez, Jr.

The Filipinos are already known around the world to be one of the happiest and warmest people on earth. The campaign hopes to enjoin the whole country in creating positive buzz of the tagline.

As the international campaign is underway, the DOT is also developing a national initiative under the line ‘#1FORFUN’ to rally the nation.

“The national line is a goal, a constant reminder to ourselves why we can tell travellers it’s more fun here than anywhere else,” says the Secretary, “It needs everyone’s support for it to stay true—we need to make sure people’s experiences in our country are positive, enjoyable, and most of all, fun.”

The long-awaited idea was developed by advertising agency BBDO Guerrero, appointed in December after an exhaustive pitch overseen personally by Secretary Jimenez himself and approved by the President and members of the Cabinet.

“It’s more fun in the Philippines” has already become a word-of-mouth. In fact, the slogan is one of the most-discussed topics online and offline. We’re sure it’s going to stay that way because the line is simple and can be used in everyday conversations - basically the reason why it received mostly positive feedback.

But there’s room for improvement.

The tourism department should be doing the following to ensure the campaign’s success. Although unsolicited, here are our suggestions:

• Advertise the campaign on Facebook. Put Facebook ads with catchy punchlines, not just create a fan page on the social network.
• Advertise on global media for wider coverage. Promote through CNN, Discovery Channel, Fox, Star World, BBC, MTV, and ESPN among other networks.
• Tap movie, television and sports celebrities for endorsements. For a start, if it’s possible, have actor Jeremy Renner say “Filming Bourne Legacy is more fun in the Philippines” or hotel heiress and socialite Paris Hilton say “Doing business is more fun in the Philippines” in a video. That would be awesome. Think about the huge impact.
• Augment the tourism police force. Heighten police visibility in most, if not all, tourist spots to reduce or eliminate crimes. Make tourists feel safe at all times when they are in the country.
• Coordinate with local government units for discovery and development of more tourist attractions. Encourage LGUs to improve infrastructure to tourism sites. President Benigno Aquino III made a promise to have “a complementary infrastructure system that will include the construction and repair of roads, bridges, airports and seaports to increase accessibility to our sites.” Just follow it up.

So far, that is all we can think for today. Maybe you, our dear reader, have something to add? Insights would be much appreciated!

source: CoolBuster

'Tandang Sora' takes backseat to DOT slogan 2012 (Philippines)

MANILA, Philippines -

According to ABS-CBN's News Report, the commemoration of the bicentennial of Melchora "Tandang Sora" Aquino’s birth took a backseat to the Department of Tourism’s slogan launch today, despite efforts by history aficionados to make the topic trend online.

Tandang Sora trended on Yahoo! Philippines earlier but it only ranked sixth, following “It’s more fun in the Philippines,” “Pia Guanio,” “Mega Magazine,” “Joseph Biggel,” and “Janet Jamora.”

                       Image Credit: itsmorefuninthephilippines.com

The two most popular Tandang Sora accounts on Twitter are @marengmelchora and @batangsora. Owners of the two accounts post messages as if they were the real Tandang Sora brought to life, but they occasionally let go of their personas and tweet as modern-day supporters of the heroine.

In order to promote the bicentennial, netizens used the hashtag #SoraAt200.

source: ABS-CBN News

DOT Slogan 2012 - It's more fun in the Philippines : Worldwide Trend

MANILA, Philippines -

According to ABS-CBN's News Report, #ItsMoreFunInThePhilippines trended worldwide today, at first place, as of posting time.

It also trended locally, along with the hashtag #1ForFUN. Earlier, trending were the topics DOT, “More Fun In The Philippines,” and “It is the Filipino.”

“We are trending WORLDWIDE. Thank you Filipinos!” the Department of Tourism (DOT) tweeted at their official Twitter account.

Filipinos had mixed feelings about the DOT’s new slogan and logo. Whatever their feelings about “It’s more fun in the Philippines,” though, Filipinos rode the agency’s wave of optimism, firing off positive tweets about the Philippines and saying what they think are “more fun” to do in the country.

_Alex_Mendoza_ had a different take. “I do have to admit, but Bekimon is one of my favorite reasons that #ItsMoreFunInThePhilippines,” he quipped. 

                       Image Credit: itsmorefuninthephilippines.com

“Even calamities, #itsmorefuninthephilippines because we come together and we can still see the light in the dark,” said @HaldisSays, referring to how Filipinos were able to generate help for the victims of recent natural disasters such as typhoon Sendong.

Despite mostly positive comments and overwhelming support for the new tourism line, though, some still had reservations.

“I don’t like it. Still not creative enough,” said @iamalex44 in response to an abs-cbnNEWS.com tweet asking for feedback about the slogan.

@_QuePasaChica_ also was not fully satisfied with the slogan, saying, “A good slogan can only go so far. Safety & security of tourists, good airport amenities, etc. will do the rest.”

Others still prefer old DOT slogans. “A lot better than Pilipinas Kay Ganda but WOWPhilippines is the best!” said @Jepricito.

Some people rode the popularity of the twitter trend to air their political views. @Arrest_GMA said, “It’s more fun in the Philippines if we are 100% GMA-free.”

“More fun in the Philippines if a fair Chief Justice replaces Renato Corona,” said @iamalex44.

‘Aienation’

 While some lauded the agency’s new slogan, others criticized the agency’s supposed alienation of bloggers and “ordinary” Filipinos, as the agency took a supposedly traditional approach in the launch despite an online, social-media drive.

The DOT launch event was not livestreamed, and taking of photographs was limited. The invitees to the event were also limited to members of the media.

“If it’s really a people’s campaign, you should’ve involved d people (specially d ones hu helped u trend) n d launching. Sad,” said @tonialvarez8.

“Sorry guys, you failed social media test #1. You alientated your online followers & all these bloggers who would share photos,” said blogger/journalist Niña Terol Zialcita, who posts as @ninaterol on Twitter. 

“I’m still upset over the manner in which launch was made. Didn’t fully live up to promise of engaging ppl…A ppl’s campaign w/ only trad media in launch,” she said.

“I was expecting to see travel bloggers in that launch. I was asking who were there,” said @philippinebeat.

They were still supportive of the campaign, though, because they think it would do much good for the country.

“Despite the overlook, I support #1forfun,” said @momblogger Noemi Lardizabal-Dado.

“I am disappointed, but I shall support. #itsmorefuninthePhilippines after all!” @ninaterol later tweeted. 

According to a post by the DOT, there will be a bigger launch soon, which would accommodate more people.

It is also determined to make the campaign a success.

“Every agency will rally 2 this battle cry, make commuting, traffic more Fun in the Philippines. We have whole support of gov’t,” DOT said on Twitter.

source: ABS-CBN News

John Lloyd Cruz , Filipinp Actor talks about marriage 2012 (Philippines)

MANILA, Philippines :

According to ABS-CBN's News Report , after his reported split with actress Shaina Magdayao a few months ago, actor John Lloyd Cruz is hopeful that his next romantic relationship would involve the woman he’s supposed to spend the rest of his life with.

Asked about his ideal age for marriage, the 28-year-old actor told Push.com.ph, “Ideally, five more years [pa].”

Image Credit: beonline.com.ph

“And sana within that five years... I guess the next relationship would be a set up na for the next five years,” he added.
As early as now, Cruz said he is starting to secure his future family financially.

“‘Yung mga ini-invest ko ngayon, puwede mo ng tawagin na set up ko [for the future],” he said. “Parang sine-set ko pa lang ‘yung foundation ko as a person, as a man, as a would-be provider in the future because I’m not getting any younger.”

Despite his failed relationships, Cruz said he still believes in true love.

He explained: “Mahirap naman not to believe in true love ‘di ba? If you don’t believe in true love, parang ano pa ang puwede mong paniwalaan? Tama ba? Kaya nga [tayo pumapasok sa isang relasyon]. So yeah, I suppose I still believe in true love.”

In an earlier report, Cruz admitted that he and Magdayao are trying to work things out.
However, he clarified that they are "not officially" together.

"We are still trying to discover how to really take care of something. 'Yun lang ang pinakamagandang masasagot ko. We are still trying to discover the best way to take care of this thing [we have]," he said.

source: ABS-CBN News