With Bank of Hawaii set to leave the territory August 16, Senator Faiivae Alex Godinet is requesting a full briefing for the Senate from the Territorial Bank of American Samoa on the status of its operation and services.
Speaking on the Senate floor on Monday, the Fofo senator said that BOH will be leaving the territory next month and the Senate should be updated by the TBAS management on their banking services and products for the territory.
He said up to now the publc is not fully aware of TBAS’ plans to fill the void in banking services, including for businesses, created by BOH’s departure from the territory.
Senate President Pro Tem Senator Nuanuaolefegaiga Saoluaga Nua agreed with Senator Faiivae’s suggestion saying that many residents are concerned about what would happen to their BOH accounts, and also whether TBAS would be able to provide full banking services that individual and business customers need.
He has asked the Chairman of the Senate Government Operations Committee Senator Logoai Siaki to set a hearing date possibly next week with management of TBAS and BOH.
