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One of South Africa’s largest banks, FNB, is facing a devastating ruling in the South African courts over the irregular securitisation of loans, which could well result in the very people the bank is pursuing to foreclose over debts to be pardoned for their loans – leaving others holding the debt baby. How many other banks in South Africa face the same fate due to their greed and malicious pursuit of their clients, who default on loan payments.
Tonight we discuss the explosive scenario that could see hundreds of thousands of bank loans being excused, with an expert in this area.
Constitutional Court Ruling between ABSA Bank and Christina and Jacques Moore: http://www.griquas.com/FNB1.pdf
Government Gazette South African Reserve Bank Act (1 Jan 2008) on Securitisation Schemes: http://www.griquas.com/FNB2.pdf
Nedbank Document on Risk and Capital Management: http://www.griquas.com/FNB3.pdf
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