While Vice Speaker Fetu Fetui wanted a cancellation, the House of Representatives has agreed to go ahead with a hearing with the Territorial Bank of American Samoa.
The Chairman of the House Economic Development and Commerce Committee Samuel Meleisea reminded the committee of the hearing set for today but informed members of a request by the chairman and members of the TBAS Board for a closed door hearing. The TBAS Board is chaired by Utu Abe Malae.
He explained that the president felt that there will be sensitive information that will be shared during the hearing.
Some faipule opposed the request saying that money for the bank was appropriated and approved by the Fono who represents the people.
Therefore, the people would like to know what is going on with the bank and its plans, especially for obtaining a routing number.
Vice Speaker Fetu Fetui wanted the hearing cancelled rather than agree to a closed door meeting but Representative Sataua Dr. Samuel Sataua supported the request and suggested that the committee heed the TBAS request.
The Speaker ruled that the hearing with TBAS be held behind closed doors.
TBAS is funded with ASEDA bond proceeds and has used up more than $13 million of the total bond sale money of nearly $79 million.
