Legal Articles and Guides
Shoprite has been fined R1m by the National Consumer Tribunal for breaching the National Credit Act after it was found to have lent recklessly to vulnerable consumers.
The Western Cape High Court has delivered a damning judgment against credit providers for overcharging on legal fees and interest in contravention of the National Credit Act (NCA) which came into force in 2007, says a Moneyweb report.
Motorists affected by the burning Ford Kuga SUVs will be offered compensation in terms of a settlement agreement between the National Consumer Commission and Ford SA.
The National Consumer Commission (NCC) is preparing its papers in an application against a group of companies selling controversial ‘share analysis software’.
The Gauteng High Court has ruled that a complaint against Lewis Stores relating to delivery fees for customers who take out credit for the first time, can be heard, reports BusinessLIVE.
SA National Parks (SANParks) has obtained an order in its favour against a Constantia man who had been selling water – by the truckload – from a mountain stream.
The KZN High Court (Pietermaritzburg) application by the liquidator of VBS Mutual Bank to recover millions owed to it by former President Jacob Zuma, has revealed how the bank was reckless while conducting its business before it collapsed, notes a Cape Times report.
FNB has been found guilty of reckless lending and has had to write off a loan of more than R150 000 to a Gauteng woman who claimed the bank had failed to properly assess her finances when granting the loan.
The Gauteng High Court (Johannesburg), in a judgment written by Judge Roland Sutherland, has confirmed similar rulings in the Western Cape, KZN and Limpopo divisions, that the High Court does not have jurisdiction to release consumers from debt review.
President Cyril Ramaphosa has signed into law the controversial National Credit Amendment Bill which is geared to provide relief to over-indebted consumers, according to a Fin24 report.
A full Bench of the Gauteng High Court (Pretoria) has reserved judgment in a case that will determine how they deal with applications from consumers who want to get out of debt review before they have been able to pay off all their debts.
Why yet another warning about cyber-scams in the property industry? It’s because the hard fact is that the criminals are winning this war. In fact we are now reportedly the “second most targeted country in the world with regard to cyber-attacks”.
The courts must take a robust approach towards economic giants who flex their financial muscle to bully unsuspecting consumers to accept flawed goods, and raise all sorts of spurious defences and denials.
Banks can no longer take money from their clients' current accounts to settle their credit card debt thanks to a ruling by the Gauteng High Court (Johannesburg) outlawing the common law practice known as ‘set-off’.
The National Credit Regulator (NCR) has withdrawn its referral of Foschini Retail Group – a subsidiary of listed clothing retailer TFG – to the National Consumer Tribunal for an alleged breach of the National Credit Act.