Deadbol. Street slang for something that is dead.
That seems to describe the status of refunds owed to thousands of depositors of the failed rural banks under the Legacy Group.
Almost six months after Legacy banks closed and declared bank holiday, majority of depositors are still not paid by the Philippine Deposit Insurance Corp. (PDIC).
PMT Forum member tacamonchi recently shared some useful updates about the Philippine Deposit Insurance Corporation’s (PDIC) takeover of the Rural Bank of Paranaque (Banco Paranaque) in the thread Legacy Financial Group’s rural banks.
Early this week, he visited RBoP’s Ortigas branch and was able to talk to a Ms. Hermie from the PDIC who graciously answered all his questions. Here are what he have gathered from the conversation.
