It is shocking and deeply troubling that the National Credit Regulator (NCR) declined to divulge information to investigators compiling a report about the collapse of African Bank.
On Tuesday, Lewis Group announced that its subsidiary, Lewis Stores would face the National Consumer Tribunal (NCT) for suspected contraventions of the National Credit Act (NCA). Lewis may be fined heftily if found to be at fault.
Consumer Debt in South Africa
Consumer debt is a major problem in our country. For this reason, we should all be at our most vigilant, when it comes to over-committing ourselves to consumer debt.
Enhanced Consumer Protection
To enhance consumer protection, the National Consumer Commissioner Ebrahim Mohamed has highlighted the necessity for consumer protection bodies to support one other’s work efforts, instead of “stepping on each other’s toes.”
The three major consumer protection bodies under the Department of Trade and Industry (dti) are the National Consumer Commission (NCC), the National Consumer Tribunal (NCT) and the National Credit Regulator (NCR). Continue reading
NCR Crackdown on Creditors
Last week, the National Credit Regulator (NCR) referred 13 microlenders to the National Consumer Tribunal (NCT) for numerous violations of the National Credit Act (NCA). These referrals are part of a greater NCR crackdown on law-breaking creditors. Continue reading