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All Rights Reserved. Stop Go Networks Limited, 515 E Las Olas Boulevard, Suite 120, Fort Lauderdale, FL 33301. Eagle Cash loans fined R250 000 for reckless lending.
Cape Personal loan at bank islam malaysia The National Consumer Tribunal slapped Eagle Cash Loans, a strand-based credit provider, with a R250 000 fine and cancelled its registration as a result of reckless lending practices, the National Credit Regulator (NCR) said in a statement on Monday. An investigation by the body revealed that Eagle Cash Loans lent recklessly to consumers and retained consumers bank cards and identity documents, which are in contravention of the National Credit Act.
We urge consumers to ensure that they only apply for credit from credit providers who are registered with the NCR. Credit agreements concluded by unregistered credit providers are unlawful and in contravention of the Act, Peters added. The NCR reminded credit providers that the overcharging of interest andor fees under a credit agreement is now a criminal offence. Criminal charges will be laid by the NCR against credit providers overcharging consumers, Peters said.