The Control Yuan yesterday censured the Financial Supervisory Commission (FSC) for failing to promptly revise regulations governing the method by which the circulation rate on credit cards issued by banks is calculated, which it said was unfair to customers.
The commission had agreed to a proposal by the Consumer Protection Commission in 2006 that interest on unpaid credit cards should be based on the amount that remained unpaid rather than the total amount a cardholder had borrowed that year.
Control Yuan member Chien Lin Whei-jun (錢林慧君) said the FSC had failed to revise the rules until February, allowing card users to be “exploited” by card issuers.
“The FSC deserves condemnation for neglecting its duties,” Chien Lin said.
In a statement, the FSC said it adopted the new measures in February and announced the change on Tuesday last week, with the new regulations scheduled to take effect on Oct. 27.
The Control Yuan yesterday also censured the Department of Health over a long-term policy that it said prioritized Western medicine and stifled traditional Chinese medicine.
Citing Article 10 in the amendments to the Constitution that stipulates that the state shall promote universal medicine and promote research and development in both modern and traditional medicine, the Control Yuan said the department did not abide by the regulation.
Control Yuan member Cheng Jen-hung (程仁宏) told a press conference that the department ignoring traditional medicine went counter to a global recognition of the importance of medical sciences in various countries.
“In South Korea, an institution dedicated to researching traditional medicine was established in 1994, with about 140 employees and an annual research budget of NT$2.8 billion [US$88.18 million]. In Taiwan, the annual budget for the National Research of Chinese Medicines set up in 1963 was NT$145 million and its number of employees was reduced to 26,” Cheng said.
Taipei has once again made it to the top 100 in Oxford Economics’ Global Cities Index 2025 report, moving up five places from last year to 60. The annual index, which was published last month, evaluated 1,000 of the most populated metropolises based on five indices — economics, human capital, quality of life, environment and governance. New York maintained its top spot this year, placing first in the economics index thanks to the strength of its vibrant financial industry and economic stability. Taipei ranked 263rd in economics, 44th in human capital, 15th in quality of life, 284th for environment and 75th in governance,
The Sports Administration yesterday demanded an apology from the national table tennis association for barring 17-year-old Yeh Yi-tian (葉伊恬) from competing in the upcoming World Table Tennis (WTT) United States Smash tournament in Las Vegas this July. The sports agency said in a statement that the Chinese Taipei Table Tennis Association (CTTTA) must explain to the public why it withdrew Yeh from the WTT tournament in Las Vegas. The sports agency said it contacted the association to express its disapproval of the decision-making process after receiving a complaint from Yeh’s coach, Chuang
Control Yuan Secretary-General Lee Chun-yi (李俊俋) tendered his resignation last night, admitting that he had misused a government vehicle, as reported by media. His resignation was immediately accepted by the Control Yuan. In a statement explaining why he had resigned, Lee apologized for using a Control Yuan vehicle to transport his dog to a pet grooming salon on May 20. The issue first came to light late last month, when TVBS News reported that Lee had instructed his driver to take the dog to the salon. The news channel broadcast photos that it said were taken by an unnamed whistle-blower, which purportedly showed the
A former officer in China’s People’s Liberation Army (PLA) who witnessed the aftermath of the 1989 Tiananmen Square massacre has warned that Taiwan could face a similar fate if China attempts to unify the country by force. Li Xiaoming (李曉明), who was deployed to Beijing as a junior officer during the crackdown, said Taiwanese people should study the massacre carefully, because it offers a glimpse of what Beijing is willing to do to suppress dissent. “What happened in Tiananmen Square could happen in Taiwan too,” Li told CNA in a May 22 interview, ahead of the massacre’s 36th anniversary. “If Taiwanese students or
RSS