A former Chamber of Commerce president blasted Bahamian commercial banks for imposing “astronomical and outrageous” hidden fees that he took four months to pick up on, and urged the Government and regulators to implement greater oversight of an industry he described as “a cartel”.
Dionisio D’Aguilar, president of the Superwash laundromat chain, told Tribune Business that he was “outraged” by the 2 per cent ‘excess penalty fee’ CIBC FirstCaribbean International Bank (Bahamas) had begun imposing on clients who went into overdraft – even for one day a month – and had established no such facilities with the bank.
