National credit regulator gets tough on rogue credit providers
01 Feb 2016 | Admin Author
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The National Credit Regulator says it is intensifying its fight against credit providers not complying with the National Credit Act.
CEO, Nomsa Motshegare says the exploitation of vulnerable and unsuspecting consumers by credit providers will not be tolerated.
She said an operation dubbed 'Blitzkrieg' will primarily focus on credit providers who unlawfully retain pension and bank cards, identity documents, ID numbers and unlawfully issue garnishee orders.
She says the regulator conducted 16 joint on-site investigations in the Eastern Cape, KwaZulu-Natal, Western Cape and the North West and that 47 people had been arrested.
