• Today
    October 18

  • 10:56 AM

Bahamas government to meet bankers over fee increases


Added 11 October 2017


Bahamas Labour Minister Dion Foulkes

The Bahamas government said today that it would meet with members of the banking community next week to discuss reported increases in service fees and charges by the financial institutions.

A brief statement by the Ministry of Labour noted that the Consumer Affairs Division had “received numerous reports and complaints from the general public with respect to the increases in some commercial banks’ services fees and charges”.

It said that these complaints “range from the increases in fees to cash checks to the increases in credit card late payment charges”.

The statement said that Labour Minister Dion Foulkes will meet with members of the Clearing Banks Association and the Central Bank of The Bahamas “to discuss these issues” on October 19.

It said that the talks will also be attended by representatives of the three consumer protection agencies as well as with members of the Tripartite Council.

The statement did not say whether or not the increases in service fees and charges were a fallout of the damage caused by the passage of the hurricanes earlier last month.

But prior to the passage of the storms, the Hubert Minnis administration had warned against increased prices for services and products in the Bahamas. (CMC)


Dos and Donts

Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus


Do you agree with the Barbados Licensing Authority’s decision to repeal the decision to require motorist to provide proof of address in order to renew their licenses or register new vehicles?