St. John's 28°C Overcast

Antigua News
Live
Antigua and Barbuda

ECCB Advances Consumer Protection: A&B Among First to Pass Banking Bill

By

Published
Timothy Antoine, the Governor of the Eastern Caribbean Central Bank
Timothy Antoine, the Governor of the Eastern Caribbean Central Bank

The Eastern Caribbean Central Bank (ECCB) is making significant strides toward acquiring the legal authority to approve and reject fees imposed by commercial banks within its currency union. Recent developments indicate that the harmonized banking amendment bill has been successfully passed in both Antigua and Barbuda, as well as St Vincent and the Grenadines.

Governor Timothy Antoine of the Eastern Caribbean Currency Board has highlighted that the next crucial step in this process is the establishment of an Office of Financial Conduct and Inclusion. This initiative aims to bolster consumer protection and ensure fair practices within the banking sector.
Antoine further noted that amendments to the banking act are in progress across other member countries, which will empower the ECCB to not only approve and reject banking fees but also to address customer complaints regarding specific banking transactions.

whatsapp-group-names-for-family-friends (1)

This move is expected to enhance transparency and accountability in the financial services sector across the region, thereby fostering trust in the banking system.

As the ECCB continues to collaborate with its member nations on this important endeavor, the potential for improved regulatory measures stands to benefit consumers and promote a more equitable financial landscape within the Eastern Caribbean.

This story was first published by Antigua News on : antigua.news/2025/07/14/eccb-advances-consumer-protection-au-among-first-to-pass-banking-bill. © 2025 Antigua News. Republication without permission is not allowed.

Step 1

Add Antigua.news to your Home Screen

✕ antigua.news ⋯ Open in Safari Copy link Share…

First, open this page in Safari

You are reading inside another app (Instagram, Facebook…). Tap ⋯ at the top right and choose Open in Safari (or Open in browser).

No such option? Copy the link, open Safari and paste it in the address bar.

⚙️ Settings General › Software Update

Update your iPhone first

Alerts need iOS 16.4 or newer. Open Settings → General → Software Update and install the update. You can still add the icon now: tap Next.

‹ antigua.news ⋯

Tap the ⋯ button

It is at the bottom right of Safari, next to the address bar. Don't see the bar? Scroll up a little.

Share Add Bookmark New Tab Find on Page

Tap Share

It is the first option of the menu, with a square-and-arrow icon.

antigua.news ‹ › ▢ ⧉

Tap the Share button

The square with an arrow pointing up, in the middle of the bar at the bottom (on iPad: at the top right).

antigua.news

Tap the Share button

The square with an arrow, at the right of the address bar at the top. (Firefox: tap ☰ at the bottom, then Share.)

Copy Add to Reading List Add to Home Screen

Tap Add to Home Screen

Scroll down the list to find it (icon: a square with a +). Not there? Tap Edit Actions or View More at the bottom.

Cancel Add to Home Screen Add Antigua.news Open as Web App

Keep Open as Web App on, then tap Add

The switch must be green — without it, alerts can't work. Then tap Add at the top right.

Cancel Add to Home Screen Add Antigua.news An icon will be added to your Home Screen so you can quickly access this website.

Tap Add

At the top right. If you see an Open as Web App switch, leave it on (green).

Antigua.news

Close the browser and open Antigua.news from its new icon

Go to your Home Screen: the Antigua.news icon is there now (swipe left if you don't see it). Alerts only work when you open us from this icon.

“Antigua.news” Would Like to Send You Notifications Notifications may include alerts, sounds and icon badges. Don’t Allow Allow

Tap 🔔 Turn on alerts, then Allow

In the app you will see a red box asking to turn on alerts: choose your sections, tap the button, then tap Allow. That's it — breaking news will reach you even with the phone locked.
Shermain Bique-Charles

About the author

Shermain Bique-Charles is an accomplished journalist with over 24 years of dynamic experience in the industry. Renowned for her exceptional storytelling and investigative skills, she has garnered numerous awards that highlight her commitment to journalistic integrity and excellence. Her work not only informs but also inspires, making her a respected voice in the field.

Read our editorial standards and corrections policy. Spotted an error? Contact the newsroom.

Comments (7)

  • An old school banker July 14, 2025, 8:32 AM

    I think this is a very bad idea. In what other private industry does the governing body has the authority to dictate how much the business charges for their service. The Eastern Caribbean Banker Association and the Caribbean Association of Banks needs to fight this with every dollar they have. It is complete opposite of a free market economy.
    Reply

  • J-Dick July 14, 2025, 11:59 AM

    Well done ECCB. With rights come responsibility. Not because an entity can, they should, especially when the only justification is a wider profit margin. I am sure the oversight committee will be fair in its dealings. The public expects fees, but they must be fair and justified.
    Reply

  • Juju Bee July 14, 2025, 12:26 PM

    THANK YOU, JESUS, because some of these banks are extremely WICKED.
    Reply

  • Louise Nyack July 14, 2025, 3:25 PM

    The customer service review is overdue. Customers are investing in long-standing no-interest lines for hours to do their banking.. The tax on Pensioners’ savings or cheque accounts needs to be removed. Fair and equal loan offers need to be implemented. Better waiting room facilities for elderly customers. They need to get rid of this awful ‘Welcome Home’ introduction at the Grenada Cooperative Bank, because calls are never answered. ‘Home’ seldom opens its door to a call.
    Reply

  • informed Citizen July 14, 2025, 3:41 PM

    Finally! Banks shouldn’t have free rein over fees. The ECCB’s watchdog role is a win for everyday people.
    Reply

  • Antigua Surf July 15, 2025, 7:19 AM

    As someone working in the sector, I hope this leads to more transparency across the board, but I also hope they engage the banks directly before rejecting fees.
    Reply

  • Rhea July 15, 2025, 7:19 AM

    Sounds good on paper, but will this office really have teeth? I’ve seen too many ‘consumer protection’ promises that go nowhere.
    Reply

Submit a comment

More from Antigua and Barbuda

View section

By clicking "Accept", you consent to our website's use of cookies to give you the most relevant experience by remembering your preferences and repeat visits.

Cookie Settings

Privacy Summary

This website uses cookies so that we can provide you with the best possible user experience. Cookie information is stored in your browser and performs functions such as recognising you when you return to our site or helping our team understand which parts of the site you find most interesting and useful.

More information in Privacy Policy