The Central Bank of Trinidad and Tobago has begun direct engagement with Republic Bank following new service fee increases implemented on May 1.
Governor Larry Howai acknowledged public frustration, saying the Bank is advocating for fairness despite limited legal authority over general banking fees.
“We understand why citizens are frustrated,” Howai said. “Citizens deserve a financial system that works in their interest, and the Central Bank will continue to advocate for that.”
Officials say a survey of six commercial banks is being finalized to guide future action.
The Central Bank is also promoting low-cost basic banking accounts and expanding consumer support through financial literacy programmes.
