Efforts to strengthen CBB's oversight of banks debated

Government Senator Dr. Shantal Munro-Knight says amendments to the Financial Institutions Bill are intended to strengthen the Central Bank's ability to give guidance and directives to the commercial banking sector on the setting of fees and charges. She adds that it is also to bring the Financial Institutions Act into alignment with the Central Bank Act and the National Payment Systems Act. Also speaking on the Bill was Opposition Senator Tricia Watson, who says it is needed to regulate financial institutions. She says it brings clarity to the legislative powers of the Central Bank. Ms. Watson also spoke of her concern regarding recent data breaches within the banking sector. Subscribe to CBC News: http://www.youtube.com/cbcbarbados Connect with the CBC News Barbados Website: https://www.cbc.bb/ Facebook: https://www.facebook.com/CBCNews.bb/ Instagram: https://www.instagram.com/cbcnewsbarbados Twitter: https://twitter.com/CBCBARBADOS #CBCTV8 #CBCNewsNight