The controversial issue of banking fees has been re-ignited in the House of Representatives.
The Member of Parliament for South St. Catherine, the PNP’s Fitz Jackson, has accused parliamentarians of being complicit in allowing banks to charge the Jamaican people exorbitant fees.
He says further failure to act will only deepen the suspicion of Jamaicans that Parliamentarians do not act in their best interest.
Mr. Jackson made the criticism in opening the debate for a bill aimed at amending the Banking Services Act.
The proposed amendments include limitations on how much profits a bank can earn from non-core banking functions such as charging fees.
Mr. Jackson has been chairing a Parliamentary committee on the amendment for the last three years.
He says, over that time, banks have continued to increase their fees in direct contempt of Parliament.
Mr. Jackson says banks have misused the licenses they’ve been granted.
Debate on the proposed amendments will continue in the Lower House.