The Central Bank of Trinidad and Tobago has started engaging Republic Bank directly after the bank announced fee increases on a number of services which came into ­effect on May 1.

In acknowledging public concerns generated from the rise in fees, Central Bank Governor Larry Howai stated yesterday, “We understand why citizens are frustrated, and we do not take this sentiment lightly. Over the years, we have closely monitored fees and charges of commercial banks, and the data on this remains publicly available on our website.”

He said in a release issued by the Central Bank: “While our role as Regulator is defined by law, it is not a passive one. Citizens deserve a financial system that works in their interest, and the Central Bank will continue to advocate for that.”