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An anti-fraud body is allowed to keep what it deems important fraud information for a period of up to 10 years, the Supreme Court of Appeal has ruled.
Parliament’s committee of trade and industry has adopted a bill which will provide relief for over-indebted South Africans.
The portfolio committee on trade and industry intends to ask the SA Social Services Agency to explain how grant recipients receive loans without any affordability tests being conducted.
The National Credit Regulator has referred Foschini to the National Consumer Tribunal for being in breach of the National Credit Act.
The National Consumer Tribunal slapped Eagle Cash Loans, a strand-based credit provider, with a R250 000 fine and cancelled its registration as a result of reckless lending practices.
The National Credit Regulatorr has gone to court to get legal clarity on the effect of section 124 of the National Credit Act 34 of 2005 on the common law set-off.
The Lewis Group has posted a 26.5% fall in profits, due to tough trading conditions and the introduction of new affordability assessment regulations by the NCR.
Almost 80c in every rand is used to pay debt, despite measures in the last two decades to curb levels of household indebtedness.
The new credit act, which will soon be implemented, will not only tighten measures to grant credit but also offer more protection to consumers.
Many consumers could unwittingly be struggling to obtain credit due to their ignorance of certain aspects of the National Credit Act, explains an expert.
The National Assembly has passed a bill that will bring urgent relief to over-indebted South Africans, while concerns have been raised that it could in fact drive up the cost of loans and limit access to credit.
The ruling comes amid increased concern about South African mounting credit and store card debt.
A proper impact assessment study is needed on the proposed National Credit Amendment Bill, the Consumer Goods Council of SA tells Parliament.
Mr Price has been referred to the National Consumer Tribunal by the National Credit Regulator for being in breach of the National Credit Act.
An expert explains how consumers seeking loans can ensure their money is not taken without their permission, after the NCR filed papers against a bank over the practice.
Lewis Stores is guilty of infringing the National Credit Act, relating to credit insurance and disability cover sold to pensioners and self-employed consumers.
SPONSORED: We see a daily increase in the number of consumers that apply for debt counselling, says CEO and pioneer of Debt Rescue, Neil Roets.
MicroFinance South Africa has issued an urgent application against the National Credit Regulator and the DTI, declaring them to be in contempt over service fee caps.
Capitec is still not off the hook by the National Credit Regulator over concerns of allegedly breaching credit laws.
Debt counsellors must tell their clients the National Credit Act does not allow for debt relief from e-tolling fees, the SA National Roads Agency Limited says.
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