ECCB CONCERNED BY LEVEL OF SOME BANK FEES; TO ESTABLISH FINANCIAL OMBUDSMAN

Eastern Caribbean Central Bank Governor Timothy Antoine reveals efforts are being made to establish an office for financial conduct with a financial ombudsman. This office will respond to customers’ complaints about their banks across the currency union.
The Governor says the Central Bank is concerned about the level of some bank fees in the currency union, and this is one issue that would be channeled to this office.
He says there has been approval in principle from the monetary council for this arrangement.