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Not fully
It is known fact the banks rule the world.
Why is it that the citizens of SA pay such high interest rates on any borrowings to banks?
How is it that foreign banks charge next to no interest on their citizens borrowings? This results in more people being afforded opportunities to buy their own homes without relying on hand-outs from the government and burdening the few tax payers in this country.
No I do not
This government will continue to change the Constitution willy-nilly to suit IT'S wants & not those of the people !
Yes I do
@ SA is the only country where instead of earning interest on your money, the depositor is charged interest to bank, withdraw and for general maintenance. What then, is the incentive to bank your money?
@ The largest clientele comes from poor Africans, yet huge donations are given to rugby, cricket, swimming and many sports with very few Africans.
@ To be part of developing the economy of the country, legislation should make it an imperative for banks to develop African entrepreneurs by giving them loans especially geared towards starting small businesses.
@ A division must be established to guide and mentor them for success.
@ The loans must be paid back accordingly.
@ Irresponsible behavior must be met with the appropriate penalty.
@ All we ask is to be given a fair chance.
Yes I do
Keep up with international standards.
Yes I do
Regulation of banks is an important part of preventing another 2008 type melt down. South Africa's saving grace at that time was the strict banking controls that were already in place then. We have to stay up to date with international standards and incorporating legislation relating to the latest Basel standards can only be a good thing.
Yes I do
Regulation of the banking industry is paramount and especially when it comes to consumers as these companies do as they please
Yes I do
It is really heart breking for banks to force the junior staff to be The one going after black clients to take funeral covers and not encouraging them to save. People would be paying money for 20yrs in case they die. Saving doesn't need one to have a lot of money. Banks must teach people about options of saving. Many people only know to withdraw their salaries, funeral cover and loan. Those bank executives must be seen inside the bank to see how people are served. We must not only see their pictures on the walls. People are over dented because the employees don't want to be sacked how can a person with a take home of R15k be given a credit or R500k over 5yrs. If that money is not paid they sell the debts to private companies and people will pay till they die after that their houses will be attached and their children will be left without homes.
Yes I do
Banks need strict regulations and monitoring relating to the risks the risk they take on (including gambling on stocks and giving high risk loans). DEUTSCHEBANK is a case in point where their exposure to derivatives and general mismanagement by banking personnel exposed the bank to forces creating, and resulting in, its collapse. BANKS CANNOT BE PERMITTED TO GAMBLE AND TO PUT DEPOSITORS SAVINGS AND WELLBEING AT RISK. It would be good if built into the act was a clause stating that bank personnel found grossly negligent in the (mis)management of the bank where such mismanagement placed the bank and its depositors at risk could face severe fines and/or a jail sentence depending on the severity of the action. The USA banking system has become systematically deregulated since 2008, or regulations are not being monitored and enforced and the major 4 banks are massively exposed to risky assets; derivatives and interparty commitments. South Africa DOES NOT WANT TO GO THE SAME WAY. How Lehman Brothers and Bear Stearns got into trouble, along with most of the other banks to a lesser degree should be analysed and their actions prevented from happening in South Africa's banking system at all costs, especially with global economic meltdown conditions looming and the risk of a 70% downward adjustments across the US stock exchange being likely.
Yes I do
No comments
No I do not
Banks are the worst thing to us humans. They enforce debt and enslavement. I support whatever needs be put in place to put banks where they belong - in serving us and not the other way around.
Not fully
I have a problem with this proposed amendment. The banks with the government funding them, have been able to charge ridiculous interest rates based on colour, have been able to push up the interest prices across board with the same government with them in the same table. Seeing that the government have big chunks of money, why they don’t have their own bank to regulate? This will force all the competitors to treat everyone equally.
Not fully
The fat cats that are bleeding the banks money are in the banks themselves. Regulation of senior executive salaries and benefits need to be implemented. No one is capable of doing work worth multi-millions. It is a lie to keep putting money into the pockets of the few in their inner-circle. Having a degree is only a capability to regurgitate information it is NOT a measure of Intellegence.