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.
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.
Sureties cannot rely on the National Credit Act if the principal debt falls outside its scope.
The High Court refuses Ford Credit’s request to repossess a vehicle, saying it did not fairly consider the debtor’s proposed repayment arrangement.
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.
The judgment addresses several aspects of the National Credit Act, including the obligation to register as a credit provider and permissible interest charges.
The High Court overturns a lower court’s decision in favour of a financial adviser whose commissions were clawed back.
The changes, which include stricter compliance rules and clearer protocols for stopping debit orders, are designed to streamline the process and protect consumers.
The revised draft of PCC 23A brings further clarity to the interpretation of credit providers under the Financial Intelligence Centre Act.
Credit providers must quantify their reasonable enforcement costs promptly to allow for an agreement to be reinstated.
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.
In this video we delve in the NCR Desktop Audits. Featured in the interview is Gerrit Viviers Moonstone Compliance NCA Specialist with years of experience in the National Credit Act sector. He explains […]
Moonstone Business School of Excellence’s engaging and interactive National Credit Act courses are tailored for industry professionals.
Towards the end of last year, a judgment by the Grahamstown High Court made it unlawful for banks to bring National Credit Act matters before the high court instead of the much cheaper […]
Since the outbreak of Covid-19, we as South Africans have been faced with extraordinary circumstances, challenging each one of us to think differently in respect of how we conduct business, how we integrate […]
Towards the end of 2019, a ruling by the Western Cape High Court made headlines in various media. The ruling found in favour of the Stellenbosch University Law Clinic, Summit Financial Partners and […]
Following our article published on 7 December 2017, dealing with the Draft National Credit Amendment Bill, 2018 (the Bill), the Portfolio Committee on Trade and Industry held their public hearings on 30, 31 January and 2 February 2018, where […]
