Curbing Reckless and Predatory Lending: A Statutory Analysis of South Africa's National Credit Act

(2016) 24(3) Competition and Consumer Law Journal 220

UWA School of Law Research Paper

29 Pages Posted: 5 Dec 2017 Last revised: 28 Jan 2018

See all articles by Andrew Schmulow

Andrew Schmulow

University of Wollongong, School of Law; Clarity Prudential Regulatory Consulting Pty Ltd; Oliver Schreiner School of Law; Centre for International Trade

Date Written: 2016

Abstract

This article provides a statement and an analysis of South Africa’s statutory provisions aimed at curbing reckless lending, and preventing predatory lending, to financial consumers. The focus of the article is on the statutory mechanisms for combatting reckless and predatory lending, including a critique of the success or otherwise of the implementation of the relevant legislation. The article aims to provide a comparative analysis of what is, overall, an innovative and effective regime, the aim of which is to protect vulnerable financial consumers from reckless and predatory lending practices. As such, it is hoped, that the article will provide useful techniques for the protection of borrowers in other common law jurisdictions, such as Australia, Canada and the United States, or indeed wherever vulnerable consumers of finance are liable to be exploited.

Suggested Citation

Schmulow, Andrew, Curbing Reckless and Predatory Lending: A Statutory Analysis of South Africa's National Credit Act (2016). (2016) 24(3) Competition and Consumer Law Journal 220, UWA School of Law Research Paper, Available at SSRN: https://ssrn.com/abstract=3082047

Andrew Schmulow (Contact Author)

University of Wollongong, School of Law ( email )

Northfields Avenue
Wollongong, New South Wales 2522
Australia

Clarity Prudential Regulatory Consulting Pty Ltd ( email )

Level 5, 306 Little Collins Street
Melbourne
Victoria, Victoria 3000
Australia

HOME PAGE: http://www.clarityprc.com.au

Oliver Schreiner School of Law ( email )

PBag X3, WITS
2050 Johannesburg
South Africa

Centre for International Trade ( email )

206 International Hall
Seoul 110-745, 110-745
Korea, Republic of (South Korea)

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