Pity we don't name and shame banks that behave badly
The case studies which the Ombudsman for Banking Services (OBS) includes in its annual report are always revealing — except when it comes to naming the banks in question, unfortunately.
The 2019 report, released by video conference this week, revealed that even though it has been illegal since December 2017 for banks to have the homes they repossess put on auction without a reserve price, as recently as last year the OBS dealt with a case of such a house selling for just R1,000, leaving the previous owner with a home loan of more than R1m to pay off...
Would you like to comment on this article or view other readers' comments? Register (it’s quick and free) or sign in now.
Please read our Comment Policy before commenting.