ECCB launching division for consumer protection
CUSTOMERS OF BANKING institutions that may have an issue will soon have an entity to take their complaint to with the coming on stream in September, 2026 of the Eastern Caribbean Central Bank’s (ECCB) Office for Financial Conduct.
ECCB personnel were recently in St. Vincent and the Grenadines (SVG), to talk about the reform, and Chief Director Policy, ECCB Tracy Pollius, explained that this office will be established as a department within the ECCB, and will be responsible for what is called market conduct regulation, or financial consumer protection.
Polius said what the initiative means is that the (ECCB) will be working with commercial banks, having oversight of the activities to determine the extent to which banks are transparent in their operations with consumers.
“…so it’s looking at protection of financial consumers in the banking system…. It will include a complaints handling function, what we call alternative dispute resolution, but… it is not only about complaints,” Polius explained.
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