Fitz Jackson and Scotiabank go to Mediation over banking fees dispute
A Mediation Hearing between Opposition Member of Parliament Fitz Jackson and the Bank of Nova Scotia over the application of certain banking fees is set for Wednesday April 26.
Mediation was ordered by the court to determine if the parties to the suit can resolve or settle the dispute before the matter goes to trial.
Mr Jackson 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 be refunded, in addition to the interest that would have been foregone.
He also wants the bank to be held liable for damages incurred in regards to the frustration and the humiliation he experienced when he attempted to settle outstanding obligations and legal costs.
Mr Jackson is hopeful that the matter can be settled come Wednesday.
The MP is also predicting that the outcome of the claim will have significant implications for all clients of the country’s deposit taking institutions.