Court dismisses racism claim against FNB

The High Court in Pretoria has ruled in favour of First National Bank after bond recalculator Emerald van Zyl made claims of racism against the bank.

The court found the claim of racism was unfounded, and that Van Zyl showed a malicious disregard for the facts and an overriding desire to continue his vendetta against FNB, Business Day reported today.

Van Zyl had claimed Saambou Bank (later taken over by FNB) charged black people a higher interest rate than white people.

He alleged FNB was a racist bank.

During his campaign against the bank, he involved the African National Congress Youth League, Parliament, and the Human Rights Commission.

Van Zyl claimed to represent 400 claims ceded to him by people who entered into loan agreements with Saambou Bank.

He alleged Saambou, and later FNB, overcharged them with interest in excess of what they were obliged to pay in terms of the relevant loan agreements.

Acting Judge Louis Vorster found Saambou had not acted incorrectly, nor unreasonably, in making interest rate changes to its home-loan accounts.

As such there was no claim for any damages against FNB for former Saambou home-loan customers.

The judge agreed with a request by FNB for a punitive costs order against Van Zyl, who had waged a widespread campaign against the bank through the media.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Lockdown For
DAYS
HRS
MINS
Voting Booth
Who do you think is going to win the 2020 US election?
Please select an option Oops! Something went wrong, please try again later.
Results
Biden is going to take it
47% - 7907 votes
It's four more years for Trump
53% - 9074 votes
Vote
ZAR/USD
16.29
(-0.49)
ZAR/GBP
21.18
(-0.07)
ZAR/EUR
19.28
(-0.34)
ZAR/AUD
11.58
(-0.13)
ZAR/JPY
0.16
(-0.30)
Gold
1899.17
(+0.05)
Silver
24.18
(-1.09)
Platinum
884.00
(-1.22)
Brent Crude
41.25
(0.00)
Palladium
2358.00
(-0.42)
All Share
55008.47
(-0.60)
Top 40
50363.84
(-0.65)
Financial 15
10654.98
(-1.26)
Industrial 25
74449.10
(-0.61)
Resource 10
52337.87
(-0.43)
All JSE data delayed by at least 15 minutes morningstar logo