CCR World Magazine

You are here  :Home arrow News arrow National Credit Regulator continues with its fight against lenders flouting the National Credit Act
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


National Credit Regulator continues with its fight against lenders flouting the National Credit Act Print E-mail
Thursday, 03 July 2014

The National Credit Regulator (NCR) conducted an onsite operation in Gauteng in a bid to combat the abuse of consumers by lenders and ensure compliance with the National Credit Act (NCA) in June 2014. The investigation focused on credit providers operating in the Pretoria, Boksburg, Benoni and Kempton Park areas. A total of 21 credit providers were investigated. During the operation, two people were arrested and as a result, two criminal cases were opened. The suspects were found to be in possession of 390 bank cards, said Nomsa Motshegare, CEO at the NCR.

The focus of this kind of operation is primarily to identify credit providers who are unlawfully garnishing, retaining pension cards, bank cards, identity documents and personal identity numbers (PIN) of their clients as surety. “Retaining these cards is a contravention of the National Credit Act and it is a criminal offence”, said Motshegare.
She stated that this is part of the NCR’s ongoing strategy to root out predatory lending practices and to ensure that all credit providers, no matter where they conduct business, comply with the provisions of the NCA. “The exploitation of vulnerable and unsuspecting consumers by credit providers will not be tolerated.”

This operation was not the last one and many will continue to be conducted in different parts of the country, concluded Motshegare.

(Source - NCR Media Release)


The CCR World App


Read CCR World as an App on your iPad or iPhone.
Simply click on this link (opens iTunes as an external link) to see the CCR World iTunes Preview and download to receive a free two-week trial or go to iTunes or the App Store and search for "CCR World".

CCR Magazine

Want to know more about the UK credit scene? Then take a look at our sister magazine, CCR, the leading UK publication for senior credit industry executives.

Find out more

CCR World newswire

Sign up to our E-Newsletter and E-Alerts.


Read The Magazine - FREE ONLINE!

CCR World is the premier magazine for consumer and commercial credit professionals. It provides an independent voice to the global industry, breaking news stories and running in-depth features.

It is FREE to read online, so click here to read the current edition online.

(If you have not registered already, you will just need to do so to read all the news and analysis).

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197