Selling credit life insurance with retrenchment and disability cover to pensioners and disabled persons – who cannot meet the claim requirements – breaches the National Credit Act.
With credit card originations growing by 9.3% and Gen Z leading the charge, 38% of new credit cards were issued to first-time cardholders – the highest proportion since early 2020.
The fallout could be very uncomfortable for equity investors and savers.
An increase of R39 billion in the value of household debt and a decrease of R1.19 trillion in the value of household assets saw South Africans’ wealth (expressed in current prices) decrease by […]
The High Court in Pretoria has rejected a purchaser’s defence that the lockdown made it impossible for him to adhere to his vehicle finance agreement, finding that his inability to pay was due […]
Twenty-six percent of South Africans expect they will invest more or increase their retirement fund contributions over the next three months, while the same percentage say they will invest and contribute less, if […]
The findings of the TransUnion Industry Insights Report, which looks at the South African credit market across three dimensions among credit products, originations, balances and delinquencies, confirm that consumers are having to prioritise […]
To avoid unlawful credit agreements, it is imperative for both credit providers and consumers to be aware of the National Credit Act (NCA) and the effects thereof. “The NCA intends to achieve a […]
To avoid unlawful credit agreements, it is imperative for both credit providers and consumers to be aware of the National Credit Act (NCA) and the effects thereof. “The NCA intends to achieve a […]
For those advisers who have not reached their required hours yet, the Moonstone Business School of Excellence (MBSE) has developed various CPD online courses that will not only assist you to obtain the […]
With South Africa in lockdown, many consumers have a lot of questions about their financial well-being and what certain decisions will mean to their future. Questions like “What if I don’t pay my […]
With South Africa in lockdown, many consumers have a lot of questions about their financial well-being and what certain decisions will mean to their future. Questions like “What if I don’t pay my […]
Various financial institutions have implemented measures to provide relief to individual and business customers whose financial stability has been impacted by COVID-19. Several financial experts have also pointed in the media that, taking […]
Various financial institutions have implemented measures to provide relief to individual and business customers whose financial stability has been impacted by COVID-19. Several financial experts have also pointed in the media that, taking […]
As of 1 October 2019, all banks and credit bureau listing related complaints, involving banks, will fall under the jurisdiction of the Banking Ombudsman. All non-bank related credit bureau complaints will still be […]
Earlier this week, parliament’s Portfolio Committee on Trade and Industry was briefed on the new National Credit Amendment Act. As part of the briefing, parliament received a socio-economic impact assessment study (SEIAS) on […]
“Banks should obtain permission from consumers before transferring funds from consumers’ accounts to pay amounts due under credit agreements”, Nomsa Motshegare, Chief Executive Officer of the National Credit Regulator (NCR) commented after a […]
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