Lending abuses under the spotlight

In a move that will be a game-changer for the unsecured lending industry and also affect wage negotiations, the National Treasury will launch an intensive investigation into the extent and abuse of emolument attachment orders (EAOs) in the public sector. Almost 16%, or 360000, of the 1.5million public-sector employees have substantial chunks of their pay deducted every month before it is paid into their bank accounts because of EAOs.