Reps lament charges on accounts, probe banks

The House of Representatives has resolved to investigate the illegal and excessive charges imposed on account holders by Deposit Money Banks.

The House, at the plenary on Wednesday, decried the deductions by commercial banks from its accounts.

It therefore resolved that the Committee on Banking should liaise with “professional financial consultants to investigate and determine the extent of excess charges on the House of Representatives and other public institutions and individuals’ accounts held in various banksif any, in the last eight years.”

The committee was mandated to report back to the House with recommendations within four weeks for further legislative actions.

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