No amount of gerrymandering shall prevent consumers from having their say re Bank Fees. The fact of the matter is that, bank customers here in Jamaica, have been getting a raw deal for years. Due to the lack of 'political will' on behalf of the government actors whose sole responsibility is to the protection of the people, from all threats; foreign and domestic.
These DTIs (Deposit Taking Institutions) have been operating with impunity on the Jamaican soil undeterred, due to poor or lack of economically feasible oversight. The Supervisor (BOJ) have failed us. The Bar fraternity have failed us. The so-called protection agencies CAC, FSC, have failed us miserably in these regards.
Imagine, these DTIs operate very differently in their home jurisdictions, yet threat Jamaica like the 'wild wild west' jacking customers' monies from their accounts without commercially reasonable notices, inter alia. There is no, standard nor law governing debt collection practices of DTIs or other financial services providers here in Jamaica. Just a large financial cesspool with unaware customers drinking from it. Making the call for action a political one, is an injustice to the hard working people of Jamaica. Stop with the ideology rhetoric, people are losing real money as the wealth of the country is being siphoned off to distant shores. Worse of all, the foreign banks are making billions from the people of Jamaica, yet these same Jamaicans need visas to visit those countries.
Enough is enough, consumers in Jamaica deserve full recognition under the laws. Not this arbitrary rendering as though we are begging favors. Check the history books when was the last time a bank got its license revoked in Jamaica?? Or even fined for a violation??? Only in Jamaica banks operate perfectly. A real conscience checkup and shake up is needed in the financial sector.
#BankServiceAct#Jamaica @gleaner @OBSERVER #ConsumerLaw#Kleptocracy