The Fair Trading Commission (FTC) presents a comprehensive study of Jamaica’s credit reporting industry, evaluating its structure, performance, and regulatory framework. The findings reveal limited competition, consumer protection gaps, and significant financial exclusion due to barriers in data access and accuracy. The FTC recommends five key policy imperatives—including universal data exchange, improved dispute resolution, standardised systems of data exchange, and inclusion of informal credit sources— supported by four strong policy options to promote fairness, competition, and financial inclusion. With potential consumer savings of JMD 54 million and expanded credit access, the FTC strongly advocates for full implementation of these reforms to build a more equitable, competitive and efficient credit reporting system.
See the link below to access the full report:
2025.06.16 FTC Study into the Credit Reporting Industry. FINAL