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If you're in the market for credit, you shouldn't get too excited about a recent high court ruling scrapping part of the regulations under the National Credit Act. Two of the county's biggest unsecured lenders will continue to rely on payslips or bank statements as part of their affordability assessments. The much-discussed judgment, by Acting Judge Keith Engers, stems from a successful application by some clothing retailers to set aside regulations spelling out how credit providers must validate the income of consumers applying for credit. In spite of the scrapping of the subregulation, African Bank's chief risk officer, Piet Swanepoel, says the bank will still require payslips as part of its assessment, and Charl Nel, head of communications at Capitec, says Capitec believes that "the latest salary slips and/or bank statements are the most reliable documents to accurately verify a client's income". It has been incorrectly reported in the media that the judgment means you'll no long...

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