Wed | Apr 26, 2017

$32.5m secured for consumers by Consumer Affairs Commission

Published:Thursday | December 11, 2014 | 12:03 AM

The Consumer Affairs Commission (CAC) is reporting that it has so far secured $32.5 million on behalf of aggrieved consumers for the current 2014/15 financial year.



The CAC says of the 1,138 complaints received, it has settled 919 of them or 81 per cent.



According to the Jamaica Information Service, the CAC's chief executive officer, Dolsie Allen, has indicated that the most frequent complaints were about electrical equipment and appliances, motor vehicles and parts and utilities.



Allen says the commission will continue to educate and sensitise consumers about their rights and obligations.



She says keen attention will be placed on simplifying the explanation of laws such as the Security Interest in Personal Property Act and the Credit Bureau, so that the ordinary consumers can understand the implications and conditions of the systems and loan facilities.



The Security Interest in Personal Property law allows for intangibles, including intellectual property and other forms of personal property to be used as collateral to secure financing for business.



Under the Credit Reporting Act, the Credit Bureau prepares a report for lending institutions on the credit history of borrowers.



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