Banks issue detailed response to Private Members Bill

The island's commercial banks have issued a detailed response regarding the Private Members Bill which is seeking to amend the Banking Services Act.          
  
During a meeting last month involving the Jamaica Bankers Association and Member of Parliament for South St. Catherine Fitz Jackson, who tabled the Bill, the group said it would present a position paper.
  
Mr. Jackson is reviewing the response.

"I have read their general response which really reflects their publicly enunciated position on the bill. But as we had agreed, they have also provided a detailed clause by clause response which I will be going through with the legislative of Parliament and provide my further response," Mr. Jackson said.      

The Private Members Bill, which was tabled in the House of Representatives last month, seeks tighter regulations for banking fees and charges.