Those were a few of the scenarios dramatized at the launch of the Eastern Caribbean Central Bank or ECCB’s, Office of Financial Conduct (OFC) on September 30^th, 2026. The new department aims to put financial consumers at the centre of the banking system.

The OFC will be responsible for ensuring that customers of licensed financial institutions across the Eastern Caribbean Currency Union are treated fairly, honestly and respectfully. Its functions include handling unresolved consumer complaints, supervising the conduct of financial institutions, promoting financial literacy, and developing regulations and codes of conduct.

The office will also review financial institutions’ policies, contracts, advertising and complaint-handling procedures. Its supervisory work can include off-site reviews and on-site investigations, including mystery shopping and test purchases.

A key part of the initiative is giving consumers a clear avenue to address concerns when they believe they have not been treated fairly. It should be noted that all services provided by the OFC are free.

Previously, the Banking Act gave the ECCB limited authority to intervene in consumer complaints. The central bank could inquire about matters such as fee notices, but lacked the power to compel corrective action. Amendments to the Act have now expanded the ECCB’s powers, enabling stronger action through the new Office of Financial Conduct.