New legislation seeks to close regulatory gaps to protect consumers and promote a competitive digital finance system
Consumers can get their lives back after going under debt review although the process is not easy
A programme to help Uber drivers obtain vehicles has proven exorbitantly expensive — and drivers still won’t own their cars in the end
But amid worries that consumers could binge on credit there are signs they are handling debt better
Courts and competition tribunal will test whether the telco is liable for losses its errors have caused
TransUnion CEO Lee Naik stressed the ruling does not scrap the entire National Credit Act regulation, which makes provision for responsible lending
JP Verster was right about African Bank and Steinhoff but disagrees with Viceroy’s latest report
When banks offer bad debtors more credit, they put lives at risk, not just their own bottom line.
Of the 18.84-million credit active people in the country, 46.7% of them have impaired records, the National Credit Regulator said in October 2011.
Banks have expanded and are entering the highly profitable market of credit with care, or so they claim.
The Constitutional Court will hear argument on Tuesday on whether defaulting debtors must receive notice before action is brought against them.
South African banks say that a bid to bolster basic human rights by reinterpreting the National Credit Act could endanger the entire credit industry.
Headlines proclaim gloom for households but finance industry figures say otherwise.
Standard Bank’s Sim Tshabalala explains how 150 non-banking laws and Basel III are strangling banking.
Implementation of Basel III will make it more expensive for potential buyers to get home loans.
While the financial world worries about a double-dip recession South African banks reported a decrease in bad debts.
The 67% year-on-year leap in loans with no surety has raised the hackles of the National Credit Regulator.
<b>Rapule Tabane</b> spoke to Blade Nzimande about his continued support for President Zuma, his fight with Cosatu and views on nationalisation.
Bank lending increases although consumers are still saddled with a R1-trillion bill.
South African consumers are now benefiting from increased levels of protection, due to regulatory measures introduced across different industries.
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/ 7 December 2010
Banks and debt counsellors agree to a set of rules to resolve the debt crisis.
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/ 30 September 2008
Microlenders are experiencing a significant increase in the number of applications for loans as banks turn away customers.
South Africa needs 2 500 more debt counsellors to cope with its growing consumer crisis, according to debt counselling company Consumer Assist.
How do you get a credit record when nobody is willing to give you credit?
Credit card initiatives and product innovations — many related to pricing — are about to be spawned in the marketplace as a direct result of the challenges the National Credit Act (NCA) originally posed to the banking fraternity.
The South African credit card industry is bracing itself for a new round of innovation and competition.