TO : ALL CDA REGULATED ENTITIES (CDAREs) OR COOPERATIVES OFFERING FINANCIAL PRODUCTS AND SERVICES, EXCEPT COOPERATIVE BANKS AND INSURANCE COOPERATIVES
SUBJECT : FURTHER EXTENSION FOR THE SUBMISSION OF GAP ANALYSIS REPORT AND BOARD-APPROVED ACTION PLAN UNDER MEMORANDUM CIRCULAR NO. 2023-14 OR THE IMPLEMENTING RULES AND REGULATIONS (IRR) OF THE REPUBLIC ACT (RA) NO. 11765 OR THE FINANCIAL PRODUCTS AND SERVICES CONSUMER PROTECTION ACT (FCPA)
DATE : JUNE 13, 2025
In line with the ongoing implementation of Republic Act No. 11765, otherwise known as the Financial Products and Services Consumer Protection Act (FCPA), and its Implementing Rules and Regulations (IRR) under Memorandum Circular No. 2023-14, the Cooperative Development Authority (CDA) hereby grants a further extension for the submission of the Gap Analysis Report and Board-Approved Action Plan for all CDA Regulated Entities (CDAREs), excluding Cooperative Banks and Insurance Cooperatives.
The new deadline for the submission has been extended from June 30, 2025 to July 31, 2025.
This second extension, approved through Board Resolution No. 376, Series of 2025 dated June 19, 2025, is granted in response to the continuing need expressed by various CDAREs for additional time to finalize their internal assessments and obtain Board approval of their respective action plans.
The Authority reiterates that this submission is a critical step in achieving full compliance with the FCPA and its IRR. All CDAREs are urged to take advantage of this extension to ensure quality submissions that reflect accurate assessment and actionable plans aligned with consumer protection standards. No additional extension will be granted beyond this date.
Further, Federations and Cooperatives Unions are encouraged to provide technical assistance to its affiliates in the preparation of the said report.
For further clarification or technical assistance, CDAREs may contact the Credit Surety Fund Section of the CDA Regional Extension Office with jurisdiction over their area of operation.
For strict compliance.
(sgd)USEC. ALEXANDER B. RAQUEPO
Chairperson
Download Memorandum HERE
