I so agree with bogarts comments. I personally have heard some horror stories. I am not talking about clear loan repayments defaults where a customer borrows and cannot pay back because he doesn’t have the money. I’m talking about errors, mistakes, banks continuous change of staff so the newcomers do not understand the customers who had had problems previously. When Scotia closed shop in Eleuthera their customers had to deal with Nassau and I know of one particular story from Eleuthera where that has caused major problems with NO fault to the customer yet they are about to be removed from their home. Irregular and, I believe, illegal acts of throwing people out of their homes without warning, sometimes late at night. Missing documents, incorrectly filed and passed documents. The customer who has found errors or mistakes or problems with his/her account has no other recourse than to get a lawyer. Then try to find a lawyer willing to fight the bank. Most will give ‘conflict of interest” answers (ie hefty pay cheques they get each month from the banks) to customers needing to fight the bank. In Nassau there are lots of possible alternatives to the big lawyers, with of course hefty retainers required. Island folks are in an even bigger hole. Few lawyers, little knowledge of the courts and legal system, dependent for most on Nassau lawyers and so constant travelling to Nassau is necessary. I would also like to see, as he comments, some Commission set up to look into those $1 billion defaults and for all those who had a problem and couldn’t get it resolved and gave up, we would need these folks to come forward and their cases need to be reviewed. We’re talking peoples’ lives here. The homes that they have worked basically, all their lives for. It is not trivial.
The problem is Sir, is that Bahamians have no protection from the banks, who implement their own policies and get away with whatever they CAN get away with (Including BOB). The poor client has no recourse to any problem, with an only option of getting a lawyer. Then finding a lawyer to fight the banks who have all the "top" lawyers. Then the money, then the Supreme court.....its an impossible circuit for most Bahamians and Gomez needs to be commended for bringing this to the forefront. Thousands of Bahamians have fallen prey to these bank practices and the common man is defenseless.
Well done you Abaconians! Now lets see if you can get Nassau, Grand Bahama, the rest of our lovely islands and our neighbours in the Caribbean, educated and involved.
The Banks in the Bahamas have been abusing their customers for too long. The Ombudsman is a consumer service, running in most civilized countries. The public needs to make their voices heard on this issue. Alone you cannot fight the banks. A petition is now online asking for this very thing and is approaching 700 in just 6 working days. Please make your voice heard.
I was sent this from a reporter in Barbados who had seen the Tribune article and thought that we should know the history, current status and future of Canadian banks in the Caribbean. It is an eye opener and a very well researched article covering all our islands with emphasis on the Canadian banks.
The bank multiplying 4 x 4 and getting 12, allegedly lying in affidavit and allegedly concocting a cover up story in sworn affidavit does not look good either.
I believe you are clutching at straws here ohdrap4. It is normal to describe a persons status when producing a document that is to go out to the public. NHL's All Star Michael Bolt, Google CEO's George Mason etc. Cacique Award winner Malcolm Spicer etc I was one who signed the petition and as far as I can remember it stated that "we, the undersigned, are aware of the dispute going on at present between Malcolm And Adrienne Spicer. We see massive mathematical errors in the banks work followed by what is alleged to be lies followed by cover ups in sworn affidavits to the Supreme Court. It is a matter that affects all Bahamians and because of this we also support the Spicers attempts to get a banking Ombudsman here in the Bahamas to protect ALL Bahamians in their dealings with the banks." I fully support this. As you say the final decisions lie with the Court and one would hope that it is ***the true facts*** of the case that will endure
What a horrible state of affairs. How can these Canadian banks treat the Bahamians in a way they could never do so in Canada to their own people. By the looks of this case the bank should have sat down with the Spicers, explained the error, had another appraisal done and come to a mutual agreement. Instead it looks like they just buried their heads in the sand and went after the Spicers attempting to recoup from them assets valued at $1.7M to cover an $855K loan. Nice profit for the bank and ruination for the Spicers. I'm pleased to see that the Spicers seem to have an excellent case against the bank and I look forward, with many others to the outcome of this case. Bahamians have no defense against these banks. They are a law to themselves and you'd better have bags of $ somewhere if you wish to fight them. I fear for our Bahamian family
Wanderer says...
I can't believe the bank has not resolved this case already. Not a good omen for their public relations and customer trust.
On Whistleblower challenges CIBC evidence ‘credibility’
Posted 4 August 2016, 2:51 p.m. Suggest removal
Wanderer says...
I so agree with bogarts comments. I personally have heard some horror stories. I am not talking about clear loan repayments defaults where a customer borrows and cannot pay back because he doesn’t have the money. I’m talking about errors, mistakes, banks continuous change of staff so the newcomers do not understand the customers who had had problems previously. When Scotia closed shop in Eleuthera their customers had to deal with Nassau and I know of one particular story from Eleuthera where that has caused major problems with NO fault to the customer yet they are about to be removed from their home. Irregular and, I believe, illegal acts of throwing people out of their homes without warning, sometimes late at night. Missing documents, incorrectly filed and passed documents. The customer who has found errors or mistakes or problems with his/her account has no other recourse than to get a lawyer. Then try to find a lawyer willing to fight the bank. Most will give ‘conflict of interest” answers (ie hefty pay cheques they get each month from the banks) to customers needing to fight the bank. In Nassau there are lots of possible alternatives to the big lawyers, with of course hefty retainers required. Island folks are in an even bigger hole. Few lawyers, little knowledge of the courts and legal system, dependent for most on Nassau lawyers and so constant travelling to Nassau is necessary.
I would also like to see, as he comments, some Commission set up to look into those $1 billion defaults and for all those who had a problem and couldn’t get it resolved and gave up, we would need these folks to come forward and their cases need to be reviewed. We’re talking peoples’ lives here. The homes that they have worked basically, all their lives for. It is not trivial.
On Consumers ‘totally naked’ against banking practices
Posted 4 August 2016, 12:12 p.m. Suggest removal
Wanderer says...
The problem is Sir, is that Bahamians have no protection from the banks, who implement their own policies and get away with whatever they CAN get away with (Including BOB). The poor client has no recourse to any problem, with an only option of getting a lawyer. Then finding a lawyer to fight the banks who have all the "top" lawyers. Then the money, then the Supreme court.....its an impossible circuit for most Bahamians and Gomez needs to be commended for bringing this to the forefront. Thousands of Bahamians have fallen prey to these bank practices and the common man is defenseless.
On Consumers ‘totally naked’ against banking practices
Posted 2 August 2016, 9:37 p.m. Suggest removal
Wanderer says...
A breath of fresh air Mr Gomez. At last someone held in high esteem speaks for the people against the usurious practices of these behemoths.
On Consumers ‘totally naked’ against banking practices
Posted 2 August 2016, 9:30 p.m. Suggest removal
Wanderer says...
Well done you Abaconians! Now lets see if you can get Nassau, Grand Bahama, the rest of our lovely islands and our neighbours in the Caribbean, educated and involved.
On Ombudsman urged to resolve bank disputes
Posted 16 March 2016, 10:30 p.m. Suggest removal
Wanderer says...
The Banks in the Bahamas have been abusing their customers for too long. The Ombudsman is a consumer service, running in most civilized countries. The public needs to make their voices heard on this issue. Alone you cannot fight the banks. A petition is now online asking for this very thing and is approaching 700 in just 6 working days. Please make your voice heard.
http://www.ipetitions.com/petition/baha…
On Ombudsman urged to resolve bank disputes
Posted 14 March 2016, 2:23 p.m. Suggest removal
Wanderer says...
I was sent this from a reporter in Barbados who had seen the Tribune article and thought that we should know the history, current status and future of Canadian banks in the Caribbean. It is an eye opener and a very well researched article covering all our islands with emphasis on the Canadian banks.
http://timescaribbeanonline.com/trouble…
On ‘Terrified’ of outcome in CIBC loan dispute
Posted 4 March 2016, 7:24 p.m. Suggest removal
Wanderer says...
The bank multiplying 4 x 4 and getting 12, allegedly lying in affidavit and allegedly concocting a cover up story in sworn affidavit does not look good either.
On ‘Terrified’ of outcome in CIBC loan dispute
Posted 3 March 2016, 6:39 p.m. Suggest removal
Wanderer says...
I believe you are clutching at straws here ohdrap4. It is normal to describe a persons status when producing a document that is to go out to the public. NHL's All Star Michael Bolt, Google CEO's George Mason etc. Cacique Award winner Malcolm Spicer etc
I was one who signed the petition and as far as I can remember it stated that "we, the undersigned, are aware of the dispute going on at present between Malcolm And Adrienne Spicer. We see massive mathematical errors in the banks work followed by what is alleged to be lies followed by cover ups in sworn affidavits to the Supreme Court. It is a matter that affects all Bahamians and because of this we also support the Spicers attempts to get a banking Ombudsman here in the Bahamas to protect ALL Bahamians in their dealings with the banks." I fully support this.
As you say the final decisions lie with the Court and one would hope that it is ***the true facts*** of the case that will endure
On ohdrap4
Posted 2 March 2016, 6:23 p.m. Suggest removal
Wanderer says...
What a horrible state of affairs. How can these Canadian banks treat the Bahamians in a way they could never do so in Canada to their own people. By the looks of this case the bank should have sat down with the Spicers, explained the error, had another appraisal done and come to a mutual agreement. Instead it looks like they just buried their heads in the sand and went after the Spicers attempting to recoup from them assets valued at $1.7M to cover an $855K loan. Nice profit for the bank and ruination for the Spicers. I'm pleased to see that the Spicers seem to have an excellent case against the bank and I look forward, with many others to the outcome of this case. Bahamians have no defense against these banks. They are a law to themselves and you'd better have bags of $ somewhere if you wish to fight them. I fear for our Bahamian family
On ‘Terrified’ of outcome in CIBC loan dispute
Posted 2 March 2016, 11:52 a.m. Suggest removal