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SECOND NOTICE – 22 May 2024

Governor Timothy Antoine
Eastern Caribbean Central Bank Headquarters
P.O. Box 89, Basseterre
Saint Christopher (St. Kitts) and Nevis
Via Electronic Mail: info@eccb-centralbank.org

THE BOARD OF DIRECTORS
Eastern Caribbean Central Bank Headquarters
P.O. Box 89, Basseterre
Saint Christopher (St. Kitts) and Nevis
Via Electronic Mail: info@eccb-centralbank.org

Honourable Minister of Finance
Dr. Ellis L. Webster
Government of Anguilla
The Valley
Anguilla

Ms. Charlene Berry
Country Manager, AG
Republic Bank (Anguilla) Limited
The Valley
Anguilla

Dear Sirs and Madam,

We, the undersigned, represent a fraction of the customers of Republic Bank (Anguilla) Limited who suffered substantial financial loss on or about 29th April 2024. We previously wrote to you on 8 May 2024, but have yet to receive any formal communication in response.

Following a peaceful protest and a subsequent Town Hall meeting, we have continued to gather support and signatures, now totaling 280. We are approaching week four of this debacle, and customers are facing another round of bills and financial responsibilities amidst dire financial situations caused by unauthorized debits to their accounts.

Key Concerns:

1. Republic Bank (Anguilla) Limited has unduly pressured customers to sign legal documents without allowing consultation with lawyers.
2. No evidence or financial records have been provided to customers to verify the debits from their accounts.
3. The bank’s conduct lacks financial probity and sound business practice, causing extreme hardship for customers.

Further Investigation Findings:

1. The bank’s information technology platform is riddled with unresolved technical errors.
2. The Phoenix Fusion platform migration has been problematic since 2022.
3. The bank has violated its customer service agreement.
4. Customers are unable to verify account postings.
5. Customers are still being charged late fees and interest.
6. Delays in transaction postings have caused disputes, and equitable principles bar the bank from claiming unverified sums.
7. The bank’s 2023 audit report reveals excessive unsecured borrowings and continued financial reporting issues.

Petitioners’ Call to Action:

To the Minister of Finance of Anguilla:

1. Issue a directive to the Monetary Council to require the ECCB to conclude their investigation within 14 days.
2. Demand Republic Bank (Anguilla) Limited reinstates every account debited without providing transaction receipts and verification opportunities to account holders.

To the Governor of the Eastern Caribbean Central Bank:

1. Disclose audit instructions and the audit firm’s name; ensure mandatory rotation of the audit firm.
2. Disclose the audit completion period.
3. Implement consumer protection legislation immediately.
4. Conduct IT audits of all systems related to the bank.
5. Demand reinstatement of debited accounts until transactions are verified.
6. Ensure all loan payments on standing orders are applied correctly.
7. Reverse all late fees, interest, and penalties incurred due to delays.
8. Invoke ECCB’s Article 5B (ii) powers to protect depositors’ rights.

To the Management of Republic Bank (Anguilla) Limited:

1. Reinstate debited accounts until transactions are verified.
2. Apply all loan payments on standing orders.
3. Reverse all late fees, interest, and penalties incurred due to delays.

From a moral and humanitarian perspective, the actions of Republic Bank (Anguilla) Limited are inhumane and egregious. The ongoing delay erodes customer confidence, and the bank’s success relies on mutual cooperation and respect with its core customer base.

Final Demand:

We request an audience with the addressees of this letter for a joint meeting to discuss the contents and the way forward.

Yours respectfully,

Signatures of 280 Petitioners

With Copy To: All Media Houses

For further information, contact:
Mrs. Melisha Maccow Niles – melisha.maccow@gmail.com
Ms. Anoushka Romney – anoushka.romney@icloud.com