The High Court has ordered the National Credit Regulator (NCR) and the Minister of Trade and Industry to set aside regulations that cap interest rates and fees on short-term credit contracts.
It said that the Minister and the NCR failed to consider the effects of such caps on the micro-lending industry as well as the delivery of short-term credit to consumers.
The Money Show’s Bruce Whitfield interviewed Stephen Logan, Founder at Fair Credit.
For more detail; listen to the interview in the audio below.
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