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Oriental Bank Ordered by V.I. Banking Board to Compensate Customers Following Painful Transition

The V.I. Banking Board met Friday and took swift action in an effort to hold Oriental Bank accountable for what has been described by customers as a disastrous transition from Scotiabank's "ScotiaGlobe" system to Oriental's own offering. During the meeting, the bank was ordered to "compensate all customers who have suffered any financial loss due to the conversion." The move follows a Consortium report documenting the woes of customers, all of whom were forced to wait in line, sometimes in the scorching sun for full days to attempt to learn why they couldn't access their accounts, among other frustrations, following the transition. On August 26, customers told this publication that their bills were in jeopardy because they could no longer access their accounts even after the transition period. Virtually all customers complained about long wait times spanning entire days, and others said their accounts showed zero balance on the new system. (For all VI Consortium breaking news directl...