23 Jan 2013

American Samoa vote to postpone closure of Bank of Hawaii

2:42 pm on 23 January 2013

The American Samoa House of Representatives has approved a resolution requesting the Bank of Hawaii postpone its exit from the territory.

The House of Representatives voted unanimously for the resolution, which asks for a three-month delay of the Bank's closure to allow its customers to make other arrangements.

According to the non-binding measure, it came as a surprise when the Bank of Hawaii announced last November that all accounts and banking activities would have to end by next month for the Bank to close local operations by March.

The resolution says with only two major banks in the territory, the abrupt departure and limited time frame given to the public to act have caused much concern and dismay.