We are aware of the National Credit Act and what it does. There are, however, acronyms
that are similar and can lead to confusion. The NCA is the National Credit Act. The NCA was
signed into law on the 15 th March 2005. There is also the NCR, which stands for the National
Credit Regulator. There are bodies that have been put into place to ensure that consumers
are protected from unlawful practices. This is where the National Credit Act and the
National Credit Regulator are invaluable.

The differences between the NCA and the NCR:

The NCA

The National Credit Act was designed and signed into law to help protect the consumer in
the credit market. Its role is also to make credit and banking services more accessible to all
South Africans. In a nutshell, it aims to promote a fair, transparent, sustainable, responsible,
and accessible credit market, as well as to protect consumers from those seeking to evade
legislation regarding credit provision. While it does seem very involved and confusing, the
NCA aims to simplify the procedures surrounding the South African credit market. It also
helps to improve control for a better, more responsible credit practice.

The NCR

As with all organisations, there needs to be a regulating body to ensure that it maintains the
right standards and procedures. What the NCR does is take responsibility for enforcing the
National Credit Act in South Africa. By enforcing the Act, they play a huge role in the proper
regulation of the South African credit industry. This includes both the registration and
accreditation of lenders. The National Credit Regulator ensures the compliance of credit
providers regarding the upholding of the Act in their business practices.
In order to protect consumers from unscrupulous lenders, the NCR constantly investigates
reckless lending. They also provide all information on Debt Counsellors, Credit Providers,
Credit Bureaus, and ADR Agents in South Africa. Another function of the NCR is that they
can assist borrowers with different types of disputes arising from loan complications.

Both The National Credit Act and The National Credit Regulator work hand in hand to assist
and protect consumers of South Africa.
For more details about the NCA and NCR, speak to One Debt today.