Opposition Member of Parliament Fitz Jackson
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Fitz Jackson
By Clinton McGregor
The legal battle between Opposition Member of Parliament Fitz Jackson and the Bank of Nova Scotia over the charging of encashment fees resumes Thursday before the Supreme Court with a case management hearing.
Mr. Jackson had filed four claims before the court seeking a declaration that the charging of encashment fees is a breach of the Bills of Exchange Act, and for the fees collected from him to be refunded, in addition to the interest that would have been forgone.
The Bank would also be liable for damages incurred in regards to the frustration and humiliation Mr. Jackson experienced when he attempted to settle outstanding obligations and legal costs.
He insists that the charging of the fees is illegal under Bills of Exchange Act, adding that other banks are also in breach.
The MP is seeking a declaration to this effect.
Mediation was required by the Supreme Court to determine if the parties to the suit could resolve or settle the dispute before the matter goes to trial. However, mediation between the parties collapsed in June.
In its amended defence submitted to the court, BNS acknowledged Mr. Jackson's claim and told the court that it has since discontinued all cheque encashment fees, in the case of non-customers, with effect from April 24 and in the case of customers, from July 10.
The bank has also reimbursed Mr. Jackson the $385 it had charged him, but he has rejected their refund.
Speaking with Radio Jamaica News, Mr. Jackson said he wants a speedy resolution to the matter and hopes the court will deem the bank's charging of such a fee as illegal.
The matter is being closely watched by customers of Scotiabank, other banking institutions and the Bank of Jamaica.
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