Proposed Banking Act Amendments to Strengthen Consumer Protection

Proposed amendments to the Banking Act across the Eastern Caribbean Currency Union will provide a legal framework for the Office for Financial Conduct, which will serve as a consumer regulator for banking services. The office will handle complaints, enforce codes of conduct and help customers seek resolution and redress, with its services available free of charge. Saint Lucia is expected to update its legislation in 2026, while the Office for Financial Conduct is scheduled to launch in September.