The Development Bank of American Samoa (DBAS) was established by the American Samoa Government (ASG) through legislation in 1969 to:
- Provide American Samoa with lending and investment facilities;
- Assist in the promotion of private enterprise; and
- Meet the needs of developing the economy of American Samoa.
The DBAS conducts its operations as per the provisions of Title 28 of the American Samoa Code Annotated. The bank also complies with the Federal Equal Credit Opportunity Act and Federal Truth-in-Lending Act. The DBAS treats all new loan applications on a "First Come First Serve" basis to maintain impartiality and fairness.
As a development bank, the DBAS intends to complement commercial banking activity and acts as a "lender of last resort" in American Samoa. The bank, however, operates strictly in accordance with sound commercial banking practices in order to maintain continuity of operations and financial strength. The Bank also attaches due regard to the general framework of the ASG's economic policies, plans and priorities in implementing its financial (lending and non-lending) programs.
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