Judge rebukes bank for ‘high-handed’ approach to credit agreement reinstatement
Credit providers must quantify their reasonable enforcement costs promptly to allow for an agreement to be reinstated.
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Ruling clarifies separate agreement fees under the National Credit Act
Fees in separate agreements between a service provider and consumers are not automatically illegal, provided they are kept separate from the fees regulated under the credit provider’s agreement.
South Africans ‘ignore’ debt woes: survey highlights growing financial strain
The Money Stress Tracker survey finds that consumers’ response to financial strain is long on intent but short on action.
‘Outdated’ pricing structure is harming microlenders and consumers, says MFSA
The most recent revision to the maximum interest rates and fees that credit providers can charge was in November 2015.
Ombuds will handle cases involving disputes of fact or law and award compensation
And the requirement to accept oral complaints applies to financial institutions, not only ombuds.
SCA ruling highlights the legal pitfalls of loans among ‘friends’
The Supreme Court of Appeal’s recent decision underscores the critical importance of understanding ‘transactions at arm’s length’ under the National Credit Act.
MBSE’s NCA courses: three ways for credit providers to comply
Moonstone Business School of Excellence’s engaging and interactive National Credit Act courses are tailored for industry professionals.
‘Courts should not simply rubberstamp punitive costs orders against defaulting consumers’
Judge says the courts have a duty to assess whether contracts do not offend against constitutional principles, as well as the NCA and the CPA.
