Notification - from the DCI.... Latest Update On the Amendment To The National Credit Bill The Bill has been sent to the President to be signed into Law. Because of the nature of these amendments, this Bill has been marked as Consumer Protection which will fast track the enactment. Some Highlighted Changes; The Board of the National Credit Regulator will be abolished. Payment Distribution Agents will have to register in terms of the NCA. Consumers cannot be forced to use a PDA. Credit Providers will not be able to self regulate their affordability assessments and codes will be enforced by the Minister. Automatic removal of consumer credit information. Credit Providers may not terminate a debt review if the matter is before court. The Minister can look at the cost of credit life and include cappings Log into theDCI forum to stay updated with real industry news theDCI Administrator
Posted on: Thu, 27 Mar 2014 10:21:01 +0000
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