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JAMAICA | Public urged to support Bill to Eliminate high Bank fees

Featured JAMAICA | Public urged to support Bill to Eliminate high Bank fees
MONTEGO BAY, February 12, 2018 - Members of the Jamaican Public are being asked to protest the government's attempt to frustrate a Private Members Bill aimed at eliminating the outrageous fees charged by banks and other licenced financial institutions.

A full page advertisment in the nation's two daily newspapers as well as social media, said "thousands od Jamaicans have been affected by these charges. Multi-billions of dollars have been taken by therse institutions from customers accounts and some have even lost their entire life's savings."

The advertisement entitled "We Want Justice" is demanding that the "Government supports consumers to stop bank account raids," by the nation's banking institutions.

The ad calls on members of the public to contact their Member of Parliament and demand that they support the Bill as tabled. In addition, citizens are being asked to converge on  the Parliament at Gordon House on Tuesday February 13 at 1:00pm, to show their support for the Bill.

Fitz Jackson profile 460
Opposition Member of Parliament for South St. Catherine, Fitz Jackson has introduced a Bill in Parliament to eliminate bank fees.

It pointed out that "the Member of Parliament for South St. Catherine, Fitz Jackson, has been fighting for the protection of bank customers since 2013.

The government is now attempting to frustrate a Bill brought to Parliament by him to deal with the the outrageous fees charged by licenced financial institutions."

The Bill aims to protect consumers by providing a "minimum Service Package to include:

  1. 120 free tranaction annually
  2. No charge for cashing cheques or other instruments of similar nature
  3. No charge for making deposits
  4. No charge for withdrawal from accounts
  5. No fee on dormant accou8nts , even those with zero balances
  6. At lease 45 days notice for any increase in fees
  7. Prior disclosure of fees at ATM before transactions
  8. No charge for information on transactions or accounts.

At the last sitting of the Parliament on Tuesday, all governmrnt members voted to delay passage of the Bill.

Acting House leader Everald Warmington moved a motion that debate on the bill be suspended. However, the Opposition called for a divide resulting in a vote that saw 30 government members supporting the motion while 21 opposition legislators said 'no'. Eleven members were absent.

Jackson demanded that the Government complete debate on the Bill however the House Leader said he would not be "bullied".

After heated a discussion Mr. Warmington gave the Government's commitment to complete deliberations on the Bill at next Tuesday's sitting of the Lower House.

However, two government members have given clear indications that the Bill now before the House would end up on the scrap heap says Jackson.

Last modified onMonday, 12 February 2018 01:18
  • Countries: Jamaica

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