Regulatory Alerts2017-03-28
Credit Agreements Act 75 of 1980
The Parliament enacted the Credit Agreements Act 75 of 1980 to establish a comprehensive regulatory framework for consumer credit transactions. The legislation mandates transparent disclosure of interest rates, fees, and repayment terms while empowering debt counsellors to assist borrowers in default. Regulatory authorities are authorized to oversee credit providers, enforce compliance standards, and administer debt restructuring mechanisms to prevent reckless lending.
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