parliamentary committee

parliamentary committee

DTI to continue to alert the central bank of possible financial regulation transgressions

17h ago
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The National Credit Regulator says it warned the Reserve Bank as early as 2012 about the unsustainable unsecured credit lending by African Bank. It told a parliamentary committee on Friday that it had initially wanted to issue a consent order of 300 million rand against the embattled bank. But, after cooperation, the bank came to a 20 million rand settlement fine. The Department of Trade and Industry says it will continue to alert the central bank of possible financial regulation transgressions while the NCR clamps down on consumer protection regulations.