Fee increases have been the highest in the Caribbean and the Central Bank has refused to impose Price Controls or other Draconian measures.

Actually the Central Bank has other measures to impose rather than going back to the dark ages for solutions.
Then again when the the Govt majoroty owned Bank of the Bahamas was allowed to accept funds from the previously unregulated illegal web shop gambling business, the CB did not stop it even though thete are Bahamian laws by no less than a former Prime Minister and Privy Counsilor Putting extra cash causes high liquidoty,increased statutory deposit to CB etc and causing drop in interest rates.
t the end of the day normal customers would withdraw funds from the bank with the illegal deposits and put funds into other accounts bearing higher interest rates at the Canadian and other banks. End result the entire system is populated with increased cash originating from web shop deposits.
The Central Bank has the power to take over the keys of the irregular bank but did not. The Irregular bank even launched a lawsuit against the Central Bank.
Shockingly the new govt even went and bailed out the BoB and indicated the lawsuit would not continue. A public investigation on how and why the peoples money was going but did not happen.
Such hyper inflation of banking fees would definately be warranted with investigation or measures by the Central Bank to slow this hyper inflation of bank fees but nothing was done or as the Govenor indicates will be done.
The Consumer protection government agency given the hyper inflation of banking fees still leaves the public with the fees.
There is noone to help the people it appears.
It is then expected that when there appears no effective means to steer the financial business from within that outsiders will want to protect their investments from outside.
It is time for an overhaul of our second largest sector. The Consumer Bureau should be disbanding for an independant agency to supervise and audit the activities of banks.
Many bank customers have challenges with banks but after being aggrieved over some shortfall the customer is usually broke and noone to turn to, therefore there must be someone to help the people.
Recommended our Prime Minister be involved as he spoke passionately protecting the people against price gouging by stores selling food items.

Love your comments well mudda take sic, dont get me wrong. Just simply amazing persons can abdicate their nationalistic and soverign birthright to follow party rules and throw away the baby with the bath. I agree with you in many ways but what the heck. Quite amazing how the once leadership financial global position has eroded by bureaucrats playing bankers. Still waiting to hear from BISX to investigate why BOB shares dropped from some $5.23 to $1.39 loosing some 60 million in value. The SEC would surely investigate plus such high fluctuation surely jeapordises the market. Another government agency? On the devaluing of the dollar well there is a pool of funds tied up by the Central Bank to provide for parity among other things. There should be more punishment where white collar crime can be proved and you just have to laugh that despite the huge size of the financial industry only one guy was accused of bribery, one Bulgarian was accused of money laundering, one Jamaician was accused of human trafficking and cannot ever recall if any boat captain was ever found captianing a boatload of illegal Haitins, might be one or twomore stand to be corrected. Want to talk about crime on this tiny island and the number of persons hanged?

While there is focused attention at the other party being the web shops the insight muddatakesic raises is good on other views. Thanks.

Some other insight and opinion.
The Canadian banks said that their policies do not allow them to take webshop deposits.

Well that is not entirely true as they being members of the Clearing Banks Association of the Bahamas whose business apart from the policies of good banking among other members involve the basic function of the Clearing house where on a daily basis Commercial Banks have to settle their customers deposits made at the Bank of the Bahamas and the BoB customers who deposit cheques at the Canadian Banks have to settle.
In essence while the BOB whose Board of Directors are approved by the govt have a bank for a significant period accepting web shop deposits from when they were not legally approved, this factually means thst the then illegal funds was comingled with all Banks regardless of their foreign policy on a daily basis and with obvious agreement. Actual currency deposited by web shops cannot be separated from other customers withdrawing from the bank accepting it and depositing parts of it to banks claiming not to accept those unwanted funds.

Stand to be corrected if the Clearing Banks complained but then again the Central Bank allowed the BoB to operate without meeting their tier ratios but then again the govt approves who is the Govenor and Directors of the Central Bank.

It was definitely unfair for the foreign banks to make super efforts to meet the bank laws to operate while at the same time competing against a Bahamas govt bank not meeting same. Legal and legitimate concerns should have been raised by the majority shareholders in home countries of these foreign banks with the unfair competition.

It comes as no surprise that fees have been allowed to rise and the Central Bank has left it up to market/customers to correct.

Astonishing that bank debt of some 1billion have been tied up in bad loans and have devestated the mortgage and economy and no committee to investigate starting with the govt own controlled by shares and Board of Directors

Next topic should be why is the foreign headquarters of banks have been allowed to have local bankers give out loans in certain sectors and meet loan volumes in order from them to gain an approved staff appraisal to get a salary increase.

Ironic that on this small island where the Bahamas was the dominant offshore centre a few decadds ago and with some of the most progressive banking laws persons allowed one bank to collect the proceeds of the illegal gaming business, other banks avcepting deposots from a worker at the COB, alleged missing millions fron the Road Ttaffic area, Electricity corp finds alleged illegal from fraud and one banker chargef, millions in questionable loans impaling the public with the Rrsolve agency... costing emmergency bailout...even suing the regulator the Central Bank...but the govt picking sides and yes bailing iy out again with the peoples money and noone charged...but is not new as noone was ever hehd accountable over the decades...most baffling as to who is running the bank...bank allowed to compete with foreign banks following the rules and stringently meeting tier 1 and 2 ratios.....auditors challenged with following internatoonal rules amd revealing all vs keeping it with the people who hires them...Surely with no forensic examinations and hundreds og millions of the peoples money poured into this bank and noone doing the bank lane shuffle is incredible...the workings og the loan officers must be examined...not one bank but all banks especially where the Bahsmian customers are complaining and there seems noone can do anything even the Central Bank over the 10 dollar fee to cash a cheque and a Consumer Protection agency who are paid as a govt agency...bizzare if one has to complain on a govt agrncy or bank...onward...
....one offshore bank Mossack closing amd leaving the Bahamas snd hrn reappearing again and then files revealed, bales of drugs being captured yet there must be somewhere millions to pay for it...once illegal web shop funds now invested and in the system....AND yet noone is guilty and the pressure of the outside agencies to apply derisking and quesrion the involvement of legimate outside banks as correspondence banks must be taken seriously. Anazing politicians sit across the parliament table just cjanging sides and the same discussion still going on....imagine former PrimeMinister was implementing laws from 2000 and the politicians are still having discussions...and noone has yet been jailef except for one Bulgarian and even him is appealing.

Only persons of significant financial means wiĺ be able to afford building and with the ensuing security measures will lock out the people from ever seeing the beach or waterfront as most of the existing access rosds have been blocked off. For instance even the narrow beach by the sharp bend by the white Grove is actually private land. Some of these narrow beach front areas should be designated green areas and bought and put into the public preerve or green areas as former Prime Minister had designated. Years ago there were no boulders in the water to trap and build up land for prrsons to build but now look at these boulders and we are not talking Saunders nbeach.groins.The national birthright of being able to see ocean is worth more than individuals with money to find ways to block it with designer beachfront structures

Absolutely incredible that no investigations done to invite the public despite govt survey that majority of Bahamians surveyed that they have challenges with banks. Loans need to be investigated to see whether the customers in filling out applications and answering questions by the bank officers had a chance of success. Investigate whether information could ensure success or whether forms skewed in favour of bank. If not then why did banks change their forms. Were stress tests done? did the amounts confirm that these could be proven over a few yerrs to show they were accurate, were balance sheets done to conform assets acquired with income, any extraordinary items etcetc? Ask questions whether loan offcers were doing the correct thing and not fudging information to qualify mortgage applicants to meet hard to meet targets in giving out mortgage loans to meet targets set by foreign headoffices so that they could get a satisfactory staff report and salary increase or bonus. Dont believe for one second that Wells and Fargo officers gad targets. Absolutely incredible that all 4000 bahamian customers idn default are solely wrong

Aren't laws great. Mind you we have over a 1000 lawyers. Around 470 murderers previous govt when in 2012 almost all politicians supported the Death penalty with at least one wanting to hang murderers in Rawson Square. And if the Privy Council did not approve some would adopt the Caribbean Court. To follow the law. Now Another f1ve years and noone hanged plus almost 1000 murderers and still noone hanged and get this that lawfully that if all murderers are not in jail and can vote these accused murderers can vote and in many constituencies determine who will win a Constituency seat and you want to lecture me about moral compass. I believe that if we were to have first started to hang the first few we would empirically not have to face an accused murderer within a mile or a few feet or so in our daily lives living on this small island. You want to talk laws how about talking about some 4000 persons in default of their mortgages and there is noone to defend them whether they were given mortgages they could not survive and repay and no banker jailed or bank investigated But laws are being passed to save their homes. Laws allow foreign citizens, mere citizens to answer the bank phone query and nosy into all your confidential bank records, foreign citizens, and now the govt wants to pass laws to listen in on your Bahamian confifential and other business when laws already allow foreigners to do that. Mind you one bank here in the Bahamas already will tell you they are recordeding your call for quality but there is no way that you can say that I prefer to not to want to participate, I the customer Bahamian citizen should have some rights too. Talk to your MP

Pandoras box. Large pools of funds can be used to acquire and build houses, office buildings, condominiums. Market forces may not happen and everyone will be affected. Huge remittances and deposits to one bank certainly throws off the market workings of other banks who follow the international banking rules and administered by the Bahamian Central Bank. Growing the business in one direction may very well affect the jobs of those in the established banking sector. Legally they should be afforded the opportunity of opening banks as any other person.

Thank you for agreeing with my other sentiments. Appraisers, accountants, bankers are not perfect. Many disputes exist with one now over failed business failure etc in Florida Court another seems brewing over Bahamar payout to shareholders over cents on the dollar In determing equity, persons have had questions raised going as far back as the 1984 Commision of Inquiry with hotel valuation. Cash cow business of Clico somehow managing to get bank to obtain loans to buy office buildings and other notable business failures where govt became entwined in guarranteeing saving deposits and one currently where employee pension funds was used to fund equipment for supermarket chain. In transferring, meging, combining, by acquisition, reverse acquisition or any such process I do not believe the govt received and stamp duty in the Barclays/CiBC-FirstCaribbean. The govt did get a large amount from the oil refinery sale in GB tough. Currently there are queries on what stamp duty is paid over sale of land obtained at a bargain price and avoiding paying more if the is equity more than sale price. Currently there are two sets of Appraisers one who goes to college to studt for years and the other who as a part of a Real Estate Certification can become one ans is licensed by an Act. How do you see the Bank of the Bahamas with the govt injecting or support of 100m for resolve now posibly crystallised and continued injections of funds? In terms of equity? Capitol ratios?

I have stated many times before that investigations are needed into why 4000 plus mortgages went bad crippling the housing, construction affiliated industries. The defaulted mortgagor has noone to turn to as he is broke. 4000 usually husband and wife makes it 8000 usually with 2-3 children 16000 at times with parents etc. No Bahamian banker is perfect and where the figures do not add up for a fair chance of success for the client who paid a fee for service to be properly processes bankers should be charged with fraud and jail time also. When you buy a plane ticket not only you expect to get to your destination but you expect that the plane wheels will not fall off and passengers harmed. Thank goodness airlines can be fined. The Bank of the Bahamas should have an investigation and closed if not viable and persons charged for all our tax dollars pumped into it without an investigation and officers punished instead of being paid off and as likely rehired at another financial place. In fairness to the foreign banks fair play should happen in market economy.Many homeowners do not deserve to go through pain and suffering with the memories imprinted on their children. Wrong is wrong whether is foreign or our own Bahamian. 20 million in public funds should not automatically go to mortage relief if it can be first proved that the bank faulted on the application and some loan officer did not push through the loan to meet teir target of loans demanded by some foreign officer. We depend on foreign investments we welcome it but we should not be lesser off at the end. Fair is fair to both Bahamian and foreign alike. Go through past financial articles and see comments and advocate for investigations into the banking crises.