It's illegal for lenders to take your ID and Sassa cards, regulator warns

The National Credit Regulator has warned that lenders demanding IDs or cards as security for a loan are"usually" engaging in reckless lending and overcharging.

The practice of loan providers to take these documents as security is a criminal offence and should be reported to the regulator and the police, the NCR says. The NCR points out in a statement that everyone should have their identity documents for the upcoming elections and calls on credit providers to"desist from retaining" the documents.

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