South Africa’s National Credit Act: Successes (and Failures) in Preventing Reckless and Predatory Lending

23 Pages Posted: 16 Apr 2019

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

Tanya Ann Woker

affiliation not provided to SSRN

Corlia van Heerden

Independent

Date Written: January 23, 2018

Abstract

This paper provides an analysis of South Africa’s statutory provisions aimed at preventing reckless and predatory lending to consumers. The focus of the paper is on the statutory mechanisms for combatting such lending, including a critique of the success or otherwise of the legislation’s implementation. The paper aims to provide a comparative analysis of an innovative approach aimed at protecting vulnerable consumers. As such, it is hoped, that the paper will provide useful techniques for the protection of borrowers in other common law jurisdictions, or indeed wherever vulnerable consumers of finance are liable to be exploited.

Keywords: consumer, credit, debt, reckless, predatory, lending

Suggested Citation

Schmulow, Andrew and Woker, Tanya Ann and van Heerden, Corlia, South Africa’s National Credit Act: Successes (and Failures) in Preventing Reckless and Predatory Lending (January 23, 2018). Available at SSRN: https://ssrn.com/abstract=3357577 or http://dx.doi.org/10.2139/ssrn.3357577

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)

Tanya Ann Woker

affiliation not provided to SSRN

Corlia Van Heerden

Independent

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