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The dti issues Draft National Credit Regulations with affordability assessment for public comment Print E-mail
Tuesday, 05 August 2014
The National Credit Regulator (NCR) has announced today that the Department of Trade and Industry (dti) has issued Draft National Credit Regulations for public comment for a period of 30 days starting from 1 August 2014.

The draft regulations include regulations on affordability assessments, payment distribution agents, retention periods for credit bureau information and the listing of adverse information to the credit bureaus.
 
The draft regulations on affordability assessments contain principles that are intended to address the underlying weaknesses in affordability assessments. These Regulations will help combat reckless lending and borrowing.
 
The NCR is working with the dti to complete the remaining Regulations on the code of conduct, cost of credit and caps on credit insurance.
 
The public is encouraged to submit written comments on the draft Regulations

(Source - NCR Media Release)
 

 

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