Standard Bank’s Presentation on the Draft NCA Amendment Bill
Standard Bank joined a number of other interested parties in making a public presentation about the Portfolio Committee on Trade & Industry’s proposed changes to the National Credit Act, this month.
Presenting at Parliament in front of the committee and onlookers, the bank pointed to the existing debt relief measures that are already in place such as Debt Review, Sequestration and Administration. They also highlighted how, as an institution, they go beyond these measures to help their clients with settlements and write-offs under various circumstances.
Subsidise Debt Counsellor’s Earnings?
The bank feels that it might be better to make better use of debt review to meet the needs of lower-income consumers and even spoke of subsidising earnings for Debt Counsellors who assist these type of consumers (as was done in the past via the NCR). Debt Counsellors have not only capacity but also experience in these financial matters and may be better suited than temporary staff at the Regulators office used periodically.
Many who presented feel that the NCR even with a huge boost to it’s budget cannot hope to fill the role thrust upon it by the draft Bill.
Download SBSA’s Presentation
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