Later this month, Parliament’s standing committee on finance is due to get a briefing from Capitec and regulators regarding the bank’s lending practices. This follows allegations of reckless lending made in a report by Viceroy Research. The briefing will be held on March 20 and will be attended by Capitec, the Reserve Bank, the Financial Services Board (FSB) and Treasury. Committee chairman Yunus Carrim said Capitec had approached the committee this week with a wish to brief MPs about its activities. The main aim of the briefing would be to probe what the regulators were doing to investigate the Viceroy report. The Reserve Bank and the FSB are looking into the allegations made in the report. Carrim said the committee was trying to locate Viceroy so a representative could possibly appear at the meeting. He said the committee was concerned about the allegations made in the Viceroy report as Capitec was a bank that catered for low-income earners, especially after the experience with Af...
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