Enforce Banking Rules to Protect Customers in Grenada
Enforce Banking Rules to Protect Customers in Grenada
The Issue
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Guidelines Are not Enough: Enforce Banking Rules to Protect Customers in Grenada
We call on the Government, Ministry of Finance, the Ministry of Legal Affairs, and the Judicial and Legal Services Commission to:
Legally enforce banking rules and guidelines to protect customers by January 2027, so no Grenadian loses their service, home, land, or livelihood without access to fair and affordable justice.
Hold financial institutions including utility providers accountable for unfair practices.
Grenada’s judicial system follows British colonial common law and has not adopted the modern legal protections used in the UK. This leaves citizens exposed to unfair and exploitative financial practices. Grenadians must rely on expensive litigation to enforce fairness, while financial institutions and private companies operate largely unchallenged. The Banking Act 2015 protects the banking system, not the bank customer. Although regulators such as the Eastern Caribbean Central Bank and the Caribbean Development Bank issue guidelines of fairness, these are not legally enforceable to give protection, allowing banks to operate in ways that are legal but deeply unfair and unreasonable to the detriment of customers.
Many citizens experience:
Unethical banking practices outside ECCB and CDB guidelines.
Excessive or compounding interest that traps families in debt.
Contracts and procedures written almost entirely in the bank’s favour.
Interest arrears increase during financial hardship and lack of effective and realistic remedy.
Property at risk even after the amount borrowed has been repaid due to unconscionable interest arrears making repayment unrealistic.
Homes and land placed for sale without notice or meaningful discussion.
No independent complaints body and legal costs so high that justice is out of reach.
Recovery action and other internal affairs that is disproportionate and oppressive.
We urge the Government to rebuild trust through fairness, awareness and access to information.
Let us support our Government, our businesses and our People
Please sign the Petition
82
The Issue
Sign the Petition
Guidelines Are not Enough: Enforce Banking Rules to Protect Customers in Grenada
We call on the Government, Ministry of Finance, the Ministry of Legal Affairs, and the Judicial and Legal Services Commission to:
Legally enforce banking rules and guidelines to protect customers by January 2027, so no Grenadian loses their service, home, land, or livelihood without access to fair and affordable justice.
Hold financial institutions including utility providers accountable for unfair practices.
Grenada’s judicial system follows British colonial common law and has not adopted the modern legal protections used in the UK. This leaves citizens exposed to unfair and exploitative financial practices. Grenadians must rely on expensive litigation to enforce fairness, while financial institutions and private companies operate largely unchallenged. The Banking Act 2015 protects the banking system, not the bank customer. Although regulators such as the Eastern Caribbean Central Bank and the Caribbean Development Bank issue guidelines of fairness, these are not legally enforceable to give protection, allowing banks to operate in ways that are legal but deeply unfair and unreasonable to the detriment of customers.
Many citizens experience:
Unethical banking practices outside ECCB and CDB guidelines.
Excessive or compounding interest that traps families in debt.
Contracts and procedures written almost entirely in the bank’s favour.
Interest arrears increase during financial hardship and lack of effective and realistic remedy.
Property at risk even after the amount borrowed has been repaid due to unconscionable interest arrears making repayment unrealistic.
Homes and land placed for sale without notice or meaningful discussion.
No independent complaints body and legal costs so high that justice is out of reach.
Recovery action and other internal affairs that is disproportionate and oppressive.
We urge the Government to rebuild trust through fairness, awareness and access to information.
Let us support our Government, our businesses and our People
Please sign the Petition
82
The Decision Makers
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Petition created on 21 February 2026