The National Credit Regulator issues Compliance Notices to unregistered credit providers
Media Release - March 2017
The National Credit Regulator (NCR) has issued compliance notices to six (6) unregistered credit providers instructing them to apply to the NCR to be registered as credit providers.
This followed investigations by the NCR in the Northern Cape and Limpopo provinces targeted at unregistered credit providers.
“Credit providers are reminded that any person or entity that is involved in the provision of credit is required to be registered with the NCR as a credit provider irrespective of the number of agreements and/or the value of the principal debt” says Jacqueline Peters, Manager of the Investigations and Enforcement at the NCR.
“The NCR will continue with operations to monitor unregistered entities around the country and will bring applications to the National Consumer Tribunal to have credit agreements concluded by unregistered entities to be declared unlawful” she added.
“Consumers are urged to ensure that they only apply for credit from credit providers who are registered with the NCR and to report unregistered credit providers to the NCR”, Mrs Peters concluded.
National Credit Regulator
Tel: (011) 554 – 2722