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Community
HSA board overhaul: new fee structure confirmed
The Health Services Authority board is getting a major overhaul, with changes ranging from a new fee payment structure to mandatory training.
Premier André Ebanks made the announcement while responding to Opposition questions in Parliament yesterday.
Health Minister Katherine Ebanks-Wilks also addressed transparency and accountability within the board and HSA’s senior leadership during Thursday’s parliamentary meeting.
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Cayman Compass
New banks’ code of conduct requires notice for fees
The Cayman Islands Bankers Association has updated the code of conduct for its members. The changes bring modest improvements for local banking customers while aligning Cayman’s banks with UK best practices.
The most notable change is that Cayman’s banks have committed to give a minimum of 30 days’ notice before raising existing fees or introducing new ones.
The move comes following political pressure on banks. In July 2024 a private member’s motion was passed that called for a “higher standard of bank’s duty of fairness to customers”. It specifically called for banks to give 30 days’ notice before increasing interest rates, while also highlighting weaknesses in the then banking code and comparing it unfavourably with UK practices.
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