[MFP] proposed changes to South African National Credit Act

 

fyi article contains from very interesting stats from South Africa which you may recall has the credit legislation in place that bans 'reckless lending,' which is apparently easier said than done because they give the stats that 76% of consumers' household disposable income is being used to service debts, and more than 20% of credit active population (estimated to be 20m persons) is more than 3 mos. in arrears on loans.

Here's the full article:

https://www.compuscan.co.za/government-moves-protect-consumers-assist-indebted-households/

Best,

Jami

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