COUNTRY LAWS VERSUS BANK LAWS

The Bahamas banking laws
This is a topic I have long considered looking into. I am not much of a traveler, but I do a lot of reading and I find it hard to accept the differences of the application of banking laws from one country to the next.
In the Bahamas I have a mortgage with a Canadian based bank. I borrowed ($113,000.00) one hundred and thirteen thousand dollars to purchase my first home. My wife and I sign a mortgage that gave me a contract obligation to pay the bank ($957.00) nine hundred and fifty seven dollars every month for twenty five years or (244) two hundred and forty four payments. By my calculation that’s roughly ($233,000) two hundred and thirty thousand dollars or more than one hundred percent profit. The approval criteria are so tight both me and my wife salaries and other additional income added together barely met their requirements.
I find this hard to swallow, but you go along with what ever is the norm in your country. However is this right can this not be look at as profiteering. Every other company licensed by the government in most countries is limited to the amount of profit they can legally burden their clients with.

The banking laws in the United States.
The banking laws in the U.S. are far less stringent than the in the Bahamas. While that I have not engaged in a banking loan transaction in the U.S... All of the bank and commerce in the U.S. are highly advertised and I have noted that a loan for the same mortgage can net payments of less than ($600.00) six hundred monthly.

This seems to me like a travesty. Does the banks have card blanc on the profit they are allowed to earn. Is your government in bed with the banks?

Please comment on your experiences with the banks and how your laws apply.