BANKS MAY FORCED TO LOAN BLACK BUSINESS

BANKS may face legal action if they continue to discriminate against small back business, Parliament has warned. The Government has been called on to introduce legislation that will encourage the banking sector to grant black business more loans. This comes after the trade and industry portfolio committee approved a report which says that black businesses were battling to get loans from banks and that they were not been given access to the full range of banking services. The report suggested that drastic measures were needed to give blacks access to bank credit and that new institutions might need to be structured that will focus on small black businesses. The report also called for legislation that would allow for the monitoring of bank lending patterns.