Central Bank Governor Cleviston Haynes has been mandated by Prime Minister Mia Mottley to investigate the issue of bank fees, which are said to be among factors driving the rising cost of goods.As she rolled out a raft of measures to offer relief to consumers during a national press conference this evening, Mottley made clear that Government will have to tackle the matter though she was prepared to engage in conversations first before introducing legislation.“What we have learnt is that the move from a flat debit card charge, to a transactional fee, in some instances over three per cent on the transaction, we will have a difficulty because the companies now have to carry that cost in their cost of goods that are being sold as they do their business. This is reflected therefore in their overheads and no doubt it has already been passed on to you.
