Credit Regulator reports Edcon to Consumer Tribunal

Edcon has been referred to the National Consumer Tribunal (NCT) for charging “consumers a club fee on credit agreements”. The National Credit Regulator (NCR) announced on Friday that the practice “is not permitted by the National Credit Act (NCA)”.“The NCA allows consumers to be given a quotation which sets out the cost of credit before signing credit agreements‚” the NCR’s acting manager of investigations and enforcement‚ Jacqueline Boucher‚ said.