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NCR refers Finbond Mutual Bank to Tribunal for charging consumers excessive credit life insurance Print E-mail
Thursday, 18 June 2015
After conducting an investigation, the National Credit Regulator (“NCR”) referred Finbond Mutual Bank (“Finbond”), a registered credit provider to the National Consumer Tribunal (“Tribunal”) for charging consumers excessive and unreasonable credit life insurance, says Lesiba Mashapa, Company Secretary at the NCR.

The NCR is requesting the Tribunal to, amongst others, order Finbond to refund all affected consumers and pay an administrative fine.

(Source - NCR Media Release)
 

 

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