Debt counselling is designed for financial distress, not convenience
The Credit Association of South Africa sets out key aspects of the process that consumers should understand.
#creditproviders
New guidance clarifies credit provider scope under item 11
Final PCC 23A sharpens the definition of credit providers, confirming broad inclusion while drawing clearer lines around incidental credit and non-traditional lending.
FIC invites comment on proposed risk and compliance returns
The draft directive requires certain accountable institutions to submit RCR questionnaires covering information from 2023 to 2026.
High Court: credit providers must get section 129 notices right
A subsequent, corrected section 129 notice cannot cure defects in the original notice once summary judgment proceedings have begun.
I-SCA icacisa ngokuba semthethweni ‘kwemirhumo yendlela’ kwizivumelwano zemali zezithuthi
INkundla ithi ababoneleli ngetyala kufuneka baqinisekise ukungafihli ngokupheleleyo ekuvezeni uhlobo, iindleko, kunye neziphumo zenkxaso-mali yeze ntlawulo.
MicroFinance SA rebrands as CASA to broaden focus across credit sector
The newly named Credit Association of South Africa aims to strengthen responsible lending, financial inclusion, and advocacy
SCA: Bank’s settlement agreements circumvented the NCA’s protections
The Supreme Court confirms that any post-default restructuring of NCA-regulated loans must comply strictly with the Act.
SCA clarifies legality of ‘on-the-road fees’ in vehicle finance agreements
The Court says credit providers must ensure full transparency in disclosing the nature, cost, and financing implications of these charges.
Business groups criticise withdrawal of NCA amendments
The Regulations have allowed credit bureaus to obtain consumer information from educational institutions for the past 19 years.
Draft NCA regulations widen credit-data scope and tighten affordability tests
An affordability assessment will require lenders to recognise revenue from commercial activity funded by credit and the potential realisation of assets.
MFSA: Buy Now, Pay Later operating in a regulatory void, putting millions at risk
BNPL’s credit-like features require the same statutory protections under the National Credit Act, says MicroFinance South Africa.
Buy now, panic later: a legal deep dive into SA’s payment revolution
This analysis examines whether BNPL falls under the National Credit Act or the FAIS regime, spotlights enforcement gaps, and considers how the pending COFI Bill could plug systemic vulnerabilities.
MFSA flags upfront fees as a key indicator of credit fraud
Another warning sign of a scam is a request to complete an application form sent via email, not on the provider’s website or app.
Consumers caught in hidden debt trap as ombud flags unfair practices
From hidden VAS fees that quietly inflated balances to wrongful fraud listings, the NFO Credit Division’s interventions have secured millions in write-offs.
Bundled credit insurance ruled unlawful for consumers who can’t claim
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.
NCR issues guidelines for credit providers on debt counselling process and deductions
The changes, which include stricter compliance rules and clearer protocols for stopping debit orders, are designed to streamline the process and protect consumers.
Incidental credit providers excluded from FICA registration
The revised draft of PCC 23A brings further clarity to the interpretation of credit providers under the Financial Intelligence Centre Act.
