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Monday May 13th, 2024 (Anguilla):-Attorney Tara Carter has penned a compelling letter to Sir Timothy Antoine, Governor of the Eastern Caribbean Central Bank (ECCB), regarding the recent turmoil surrounding Republic Bank Anguilla Limited. In her missive, Carter highlights grave concerns regarding the bank’s decision to debit the accounts of over 200 customers, citing a litany of infractions and demanding immediate intervention.

The letter, dated May 8, 2024, outlines a series of alarming revelations regarding the bank’s conduct, including purported irregularities in audits, misleading communications regarding account discrepancies, and questionable loan practices. Carter, a former member of the Anguilla Financial Services Commission, brings a unique perspective to the table, having served in various capacities within the financial sector.

Key among Carter’s concerns is the apparent lack of transparency and accountability exhibited by Republic Bank Anguilla. She raises pertinent questions about the veracity of the bank’s audit processes, the nature of a systemic error disclosed by the bank, and the implications for customer accounts. Furthermore, Carter emphasizes the erosion of trust and confidence among customers, warning of a potential banking crisis if left unaddressed.

The urgency of Carter’s appeal is underscored by the looming specter of economic instability. Drawing parallels to past financial crises in Anguilla, she implores Governor Antoine to take decisive action to restore faith in the banking system. Carter’s letter serves as a rallying cry for regulatory oversight and consumer protection in the face of corporate malfeasance.

In closing, Carter calls upon Governor Antoine to intervene swiftly and decisively in the Republic Bank Anguilla debacle. With the livelihoods of countless customers hanging in the balance, she underscores the imperative for prompt resolution to avert further financial fallout. The ball now rests firmly in the court of ECCB authorities to heed Carter’s impassioned plea and uphold the integrity of the region’s banking sector.