The House of Assembly has passed the Banking Amendment Bill 2026, introducing new provisions designed to strengthen oversight of how commercial banks treat their customers.
The amendments expand the role of the Eastern Caribbean Central Bank (ECCB) in supervising banks' conduct in the marketplace, giving the regional regulator a clearer mandate to monitor customer treatment across the commercial banking sector.
The Bill was approved by parliamentarians when the House met on Tuesday. It forms part of a wider regional push to sharpen consumer protection in banking, an area where the ECCB has been steadily building its supervisory toolkit in recent years.
Under the amended framework, the ECCB's remit moves beyond traditional prudential supervision — the oversight of banks' financial soundness — to include closer scrutiny of how institutions behave towards the people and businesses they serve. That shift reflects a growing recognition across the Eastern Caribbean Currency Union that a bank's stability and its conduct are two sides of the same coin.
For customers in Dominica, the practical effect is expected to be stronger safeguards around the handling of accounts, fees, complaints and other day-to-day dealings with commercial banks. The ECCB will be better placed to assess whether institutions are treating depositors and borrowers fairly and transparently.
The Bill's passage in Roseau follows similar moves across the currency union, where member governments have been aligning their national banking legislation with the ECCB's evolving supervisory standards. Because the ECCB regulates banks across eight member territories, changes to Dominica's banking law carry weight beyond the island's shores.
Consumer advocates have long argued that small-island customers need stronger protection when disputes arise with banks, particularly over charges, loan terms and access to services. The amended law is intended to give the regulator firmer ground to act when conduct falls short.
Details of the specific enforcement powers and penalties contained in the Bill were not immediately outlined, but the central aim — expanded ECCB oversight of market conduct — was made clear during the parliamentary session.
The legislation now awaits the customary procedural steps before taking effect. Once in force, it will sit alongside existing banking laws that govern the licensing and operation of commercial banks in the Commonwealth of Dominica.
For the ECCB, the amendment adds another layer to a supervisory approach that increasingly weighs how banks serve their customers, not only whether they remain solvent. For Dominicans, it signals that the rules governing their relationship with the island's banks are being tightened in their favour.
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