Racial discrimination case against FNB heading for Constitutional Court?

The Equality Court has found no merit in the claims of unfair discrimination against First National Bank.

Emerald van Zyl, a private financial consultant, is the expert witness in the case.

He claims that more than 4,000 clients were charged 30% interest or more on their home loans and these are primarily black customers .

READ: Calls for a commission of inquiry into alleged FNB discrimination

FNB argued that a lot of the issues raised had been tested in the North Gauteng High Court in 2013 and were found to be baseless.

Reacting to the judgement, van Zyl insists that FNB obtained the Low Cost Housing mortgage book of the defunct Saambou, by securitisation in 1998/1999.

From the affidavit of John Louw the curator who took over after Saambou collapsed, he said FNB was in possession of R2.6 billion of home loans from Saambou, this was the low cost housing. They took the low cost housing over on 2 February 1998.

Emerald van Zyl, Private financial consultant

I am not running this campaign on behalf of the clients, these clients are doing it themselves, and I am the expert witness in the case. They have appointed an attorney to assist them in the matter.

Emerald van Zyl, Private financial consultant

Van Zyl says the Human Rights Commission is now also involved and wants to launch an application against FNB in the Western Cape High Court.

He says the applicants might well take their appeal to the highest court in the land.

We are at the moment in time considering to refer this matter to the constitution [constitutional court].

Emerald van Zyl, Private financial consultant

Click on the link below to hear more from Van Zyl...


This article first appeared on 702 : Racial discrimination case against FNB heading for Constitutional Court?


Recommended

by NEWSROOM AI
Read More
IFP says historic conference ready to elect successor to Mangosuthu Buthelezi

IFP says historic conference ready to elect successor to Mangosuthu Buthelezi

MP Mkhuleko Hlengwa gives the lowdown on what to expect from the party's weekend national elective conference.

Afriforum's Ernst Roets defends social media post displaying old SA flag

Afriforum's Ernst Roets defends social media post displaying old SA flag

Roets insists he is not disrespecting Wednesday's court judgment which ruled that displaying the flag constituted hate speech.

Activists seek African language development in universities

Activists seek African language development in universities

Elinor Sisulu says the government should prioritise indigenous languages.

ACDP claims new sex education program promotes oral sex to pre-teens

ACDP claims new sex education program promotes oral sex to pre-teens

The party says the curriculum encourages unsafe sex programmes and has given government an ultimatum to scrap the program.

Police investigating chilling discovery of 20 coffins in Orange Grove

Police investigating chilling discovery of 20 coffins in Orange Grove

Gauteng police spokesperson Captain Kay Makhubela says they have not made any arrests yet.

Calls for a commission of inquiry into alleged FNB discrimination

Calls for a commission of inquiry into alleged FNB discrimination

This week Special Assignment spoke to black homeowners who claimed that they were charged higher interest rates on home loans.

Popular articles
[LISTEN] SA's Ndlovu Youth Choir through to America's Got Talent semi-finals

[LISTEN] SA's Ndlovu Youth Choir through to America's Got Talent semi-finals

The choir has been wowing TV audiences in the US and across the world with their energetic performances.

Surfer comes up with insp-EYE-ring way to ward off sharks - take a look!

Surfer comes up with insp-EYE-ring way to ward off sharks - take a look!

Large eye stickers are being stuck to the bottom of surfboards in order to deter sharks.

'Ramaphosa wants to find ways to force pension fund managers to invest in SOEs'

'Ramaphosa wants to find ways to force pension fund managers to invest in SOEs'

Daily Maverick associate editor at Scorpio Sikonathi Mantshantsha takes a look at the week's financial news.

Lion cub worth R50k rescued from house in Cape Town

Lion cub worth R50k rescued from house in Cape Town

The feline was found by detectives at a property in Athlone on Wednesday following a tip-off.

[WATCH] Ndlovu Youth Choir shines once again with latest AGT performance

[WATCH] Ndlovu Youth Choir shines once again with latest AGT performance

The inspiring South African choirU2's Beautiful Day at America's Got Talent quarter-finals.

SA’s richest woman opens up about being a refugee and becoming a billionaire

SA’s richest woman opens up about being a refugee and becoming a billionaire

Magda Wierzycka – Sygnia’s renegade CEO – on her attitude toward money (hopes and fears, successes and failures, etc.).

Mystery solved: Why smelly, blue sewage has been leaking into Cape Town forest

Mystery solved: Why smelly, blue sewage has been leaking into Cape Town forest

The reason for the leakage has been revealed, explains Table Mountain Aerial Cableway MD Wahida Parker.