Gov't, Central Bank 'wimpy' over consumer protection

Mon, Jun 13th 2011, 11:00 PM

By ALISON LOWE
Business Reporter

alowe@tribunemedia.net

The Government and Central Bank of the Bahamas are "wimpy and pathetic" when it comes to protecting consumers, a former Chamber of Commerce president has charged, suggesting "there may be an effort" on the part of commercial banks "to hide" loan terms that, in some cases, leave people paying back more than double what they borrow.

Superwash president, Dionisio D'Aguilar, made this comment as he urged the Government to do more to "provide incentives" to banks to "go towards mortgages and commercial loans", which support the "productive" sectors of the economy, rather than leaning toward ...

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