Central Bank admonishes banks involuntarily using govt assistance for loan payments

Wed, Aug 19th 2020, 08:27 AM

In the wake of public outcry, the Central Bank of The Bahamas (CBOB) stated on Monday that it does not endorse the involuntary redirection of unemployment benefits or other government-funded assistance payments toward loan payments at lending institutions. The CBOB stated it has become aware of recipients of the government's various COVID-19 relief and assistance ...

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