The tribunal found that the company was wrong to charge a road fee, administration fee and handling fee on credit agreements, saying these fees were not compliant with the National Credit Act.
- calculate the total amount of charges, fees or interest levied on the “on the road” administration and handling fees; and - refund all those consumers charges, fees or interest levied and submit a report by independent auditors to the regulator. “The NCR welcomes this judgment as it affirms the protection given to consumers by the National Credit Act against illegal charges and fees on credit agreements”, said Nomsa Motshegare, CEO of the NCR.
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