31 Aug 2005

Senate hears of problems at American Samoa development bank

10:22 am on 31 August 2005

Problems at the development bank of American Samoa have been highlighted during Senate Select Investigative committee hearings, and recent bank audits.

Inconsistent loan policies, conflict of interest violations and unclear personnel regulations were some of the problems identified.

The development bank's interim president and board have drawn up several manuals setting clear directions for the bank to follow in the area of loans, collections, ethics, and personnel.

A drug free policy has also been developed.