Section 4. Supervision.— The Bangko Sentral ng Pilipinas (BSP) shall supervise all credit card issuers and acquirers. Supervision shall include the following:
The issuance of rules of conduct or the establishment of standards of operation for uniform application to all institutions or functions covered, and the imposition of penalties in case of noncompliance therewith;
The conduct of examination as determined by the Monetary Board to determine compliance with laws and regulations;
Oversight to ascertain that laws and regulations are complied with; and
Determining the reasonableness of fees and charges and the issuance of regulations on the same.