Bank fees in Barbados still a serious concern for the FTC
Tuesday March 08 2011 | 04:33 AM

THE issue of bank fees continues to occupy the attention of the Fair Trading Commission (FTC), says CEO Mrs. Peggy Griffith.

Responding to a query from a member of the public, Mrs. Griffith said that such matters took time but they at the FTC were still looking into the matter with respect to those charges.

“We are still doing that investigation; investigations sometimes take time because we need to get the information, we need to be able to analyse it,” she explained.

Mrs. Griffith remarked that this is necessary because “we need to be able to come up with and make sure that our findings are accurate and so we are still working on this matter.”

The subject of fees charged by commercial banks has been hotly debated in Barbados with some members of the public alleging that the charges are too high.

In 2009, the seven commercial banks operating in Barbados raked in millions of dollars in fees and commission.

Earlier, Mrs. Griffith noted that the FTC and its staff were conscious of the need to effect useful and needed outcomes for the country based on the mandate of the organisation.

She said that they at the FTC, which is celebrating its 10th anniversary, looked back with pride at how far they have reached and boldly look forward to the second decade with fortitude, commitment and dedication.