Consumer advocate calls for equal deal

ONE CONSUMER ADVOCATE BODY is about to challenge internationally owned financial institutions operating in the region regarding the treatment of their Caribbean customers.
Candice Ramessar, Caribbean project coordinator of Consumers International, said so far they had hired a consultant who examined the contract agreements of some financial services of those banks and had coded them red, green or yellow “depending on how well they complied” with the regulations in Barbados, Jamaica and Trinidad and Tobago.
This was carried out through a project – Promotion Of Consumer Protection In The Caribbean. The three-year project was started in 2009 with Jamaica, Barbados and Trinidad and Tobago in an effort to strengthen existing consumer organizations, address issues relating to banking and credit, and to educate consumers and consumer bodies on relevant customer-related issues. The Inter-American Development Bank (IDB)-funded project is in its final phase.
In addition to colour coding, Ramessar said they identified how the agreements in those financial institutions differed from what they do in other countries, especially the country of origin.
 
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