National Credit Act (NCA)

South African legislation (Act 34 of 2005) that regulates the credit industry. It protects consumers from reckless lending, sets maximum interest rates and fees, and establishes the right to debt counselling.

Usage Examples

"The NCA requires all lenders to perform an affordability assessment before granting credit."

"Under the National Credit Act, you have the right to receive a free credit report once a year."

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