Agreed, with companion legislation like Bancruptcy and would like a financial conduct authority like the uk.
Banks have the mathematical ability and under constant advisement by multitude experts headoffoces in foreign countries including international accounting firms who do yearly audits for legal required Balamce Sheet for the shareholders ,public. Audits dhould have picked up flaws in the granting of loans for decades.
Customers pay a bank fee of around 1% for the bank to compile, analyze and correctly grant a loan that has a chance of success uusing due care and attention, diligence, their rxpertise etc.
Banks follow that all all of your loans must be 45% of income and with care and digilence must ensure the remaining 55% will allow you a fair chance to survive which should be common sense duty of duty of due care not negligence but many a focus before seemed to be just the 45% to give loans to meet loan targets set by foreign head offices for loan officers to get a salary increase. Loan officers were turned into salesmen and loan officers.
Previous truck laws Act forced employers to be responsible and not redirect employees salary and leave them with little to survive. The law was changed into the Labour law which does not address this issue and many emplloyers have no responsibility if the worker signs away their whole paycheck as many govt employees do.

Clearly we need investigations before sweeping things under the carpet and where bank misrepresenntations occur, fraud, lack of due care and attention, negligence, improper analyses, lack of insurances -customers die and no insurance, faulty mortgage documentation, misuse of indemnity insurances, documents taking too long to be registered, title opinions, over collaterals requirements, hyper inflated bank fees, money laundering, numerous complaints agsonst banks that groups now protest pubictly against banks.
It takes two hands to clap, see Dodd Frank US legislation also. Go after the big fish not the small one.

Banks and financial having accountants must not have been doing their jobs to not have advised their clients to have better financial analyses over yhe past decades especially as the Banks snd financial instituhiions tend to hire the same firms evrry year.

Banks loan offocers, auditors and yearly Accounting firms must know the credit worthyness of each customer from the lengthy mathematical analysis, numerous questions and numerous pieces of papers they want you to bring. If their bank procedures fail then they should talk to their hired Accountants or sue them.

Furthermore, Banks amd Financial institutions charge a fee to give you a Bank Reference from their decades old records from all their branches immediately to show to the Embassies for Visas. Who else has better records backed by professional Accounting firms who audit their books.

We need an independent financial conduct authority to protect the customers, and audit the banks and financial institutions. not for banks and Their accountants to have the govt get involved to protect the banks.,,!!!

Serious investigation into all these Banks are needed.

@HonestTruth, I dont normally respond to persons who do not have english as a first language or who chooses to throw rocks and stones instead.I said repaying at 3.5% to NOW6%.
We are paying more because of our present junk rating which is worse. I trust you understand.
Keep up with your comments and lets try to move this country forward.

Repaying at 3.5 interest to now 6% interest and raising foreign currency debt ratio from about 28% to most 30% does not sound more compelling. And for the govt to be getting a rate of 6% FROM the private sector where over 90 - 99% of non govt companies on BISX are yeilding less than 6% is well ........

100 million and the bank shrink loans into resolve,
Around 30,40 million issue bought bank closes Nassau branch.Eight Mile Rock branch(mind you the share prices fell from over $5 yo over$1 also losing money value for shares owned by shareholders some 100 million plus)
162 million bailout Exuma branch and 30 workers getting laid off.
So 300 million tax payer money spent for less around less loans, less branches, less share value, and now less staff which is more for some and no examination.
Spending more to benefit less.

Thprough forensic investigation needed.

After injecting some 300 million of the peoples precious money especially when the cupboards are bare then 30 of the people are let go???

Yes and no.
Long term repayment to repay short ter,m debt results in the sum total repaid being more and to enjoy better cash flow to deal with current and pressing matters that may cost more if not dealt with.
Choice use of words that it does not add to national debt raised the many views that if it does not add does not also mean that it does not cost more. Then there are restructing fees, negotiating fees, legal fees, stamp duty, adninistration fees Etc.
Sometimes people want to hear the bad news first before the good news which indicates a number of things of the person(s) saying it.

80 square miles area with thirty percent canals, swamp,lakes. Other parts commercial like downtown.
Mabye the sloop landed outside the Mud and Pea in Abaco and drifted and mabye the officers should be looking in Abaco also.

Of course the 3,000 shareholders/ investors are amazed at the first profit in 5 years but how do you think the majority of the tax paying public feel that 162 million of their money was just paid into BoB plus millions gone before without financial accountability or loan fraud investigations and the struggling people cupboards still bare??

Wrong approach. You should have said they were foreigners.they have impressive credentials and they would have that contract done signed. Just jokin.