Opposition parliamentarian, Fitz Jackson, is to bring a new bill to Parliament to force banks to stop charging fees on dormant accounts.

Mr. Jackson this afternoon (May 9) withdrew the previous bill to amend the Banking Services Act.

The initial bill was tabled in November 2013, calling for the Bank of Jamaica to engage in a study on fees being charged and for the motion to be referred to the Economic and Production Committee of Parliament for recommendations.

Mr. Jackson stated that he was not prepared for the matter to be continually put off.

Mr. Jackson stated that his class action suit, to sue all licensed deposit taking institutions under the Banking Services Act to have a declaratory judgement that the dormancy fee is a breach of the law, will proceed.

Several banks have indicated that they have suspended the charging of dormancy fee, until a review is conducted.

Mr. Jackson has stated that given the effects on consumers, it would be most prudent for the fee to be terminated as in some cases, customers are double charged.