Member of Parliament for South St. Catherine, Fitz Jackson, says he’s instructed his lawyers to proceed with a class action lawsuit against the island’s commercial banks.
Mr. Jackson says the decision by four commercial banks to suspend fees on dormant accounts is not good enough.
First Global, CIBC, Scotia Bank and National Commercial Bank, NCB have all responded to intense public pressure by announcing a suspension of fees on dormant accounts.
Jackson is the MP whose Private Member’s motion brought the issue of unjust bank fees to the nation’s parliament.
Mr. Jackson says he’s not satisfied that the banks have gone far enough by suspending fees on dormant accounts.
He says moves are being intensified to sue the country’s commercial banks.
Mr. Jackson says in order to not face a class action lawsuit, there’re a number of steps which the banks should take.
He says merely suspending fees on dormant account does not go a significant way in address the issues.
Jackson says the issue of compensation should not be treated lightly.
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