But better consumer protections and disclosures, as well as greater supervisory scrutiny of the processes that originators follow and the incentives they face, are also needed. In the mortgage area, the PWG recommended action at both the federal and state levels, including, for example, stronger nationwide licensing standards for mortgage brokers and more consistent government oversight for all originators.
More consumer education is needed around how interest rates aid our ability to build up savings over the longer-term; and Much more education is needed around personal debt management. The goal of this campaign is to equip Bahamians of all ages and socio-economic backgrounds with the knowledge and confidence they need to make sound financial decisions.