SA Banks Under Scrutiny: MPs to Discuss Lending Practices and Transformation
The committee is set to meet with South Africa's major banks and the Financial Sector Conduct Authority to discuss lending practices, transformation, and regulatory compliance. Key topics on the agenda include the ratio of consumption credit to productive credit, bank charges, and client confidentiality. The meeting aims to promote transparency and accountability in the financial sector, with a focus on responsible lending practices and fair treatment of consumers. The discussion will also delve into issues of economic empowerment and transformation, seeking to address concerns around access to credit and financial inclusion. By examining the practices of major banks, the committee hopes to identify areas for improvement and ensure a more equitable financial system.
