By Mina Booker
With the World in an economic crisis many banks are increasing their fees and charges in an effort to survive, it has been proposed that financial ombudsmen be set up in Eastern Caribbean Currency Union (ECCU) countries in order to combat issues that stem from these increases.
Governor of The Eastern Caribbean Central Bank (ECCB) Timothy Antoine highlights one of these real issues that is being focused on by the ECCB.
He says that proposal will look to answer customer queries on banking fees and charges, within the regional banking jurisdiction.
At this time the ECCB highly concerned with the increase of commercial banking fees and charges but is does not have any power to dictate these fees and charges.