Finance Minister, Dr Nigel Clarke, says sweeping changes are coming in terms of Consumer Finance Protections.
Dr Clarke says legislation to assist consumers in navigating the financial space will be coming very shortly.
The finance minister made the announcement on a live forum over the social media platform Twitter last evening.
Dr Clarke came under fire from members of the Opposition on Tuesday for his answers regarding bank fees in Parliament.
South St Catherine MP Fitz Jackson described the finance minister as a spokesperson for financial institutions.
However, Dr Clarke hit back noting which party tended to have the most bankers.
He also says attempting to regulate banking fees would have unintended consequences.
The finance minister says instead the government will focus on ensuring transparency in banking for customers.
He says the incoming protections will be a true game-changer in the sector.
Dr Nigel Clarke, Minister of Finance and the Public Service.