Credit ombud suspended as a ‘precaution’ | Fin24
 
  • Retailers

    As South African retailers struggle, businesses in other African markets start to shine.

  • Up in the Air

    Government is still looking for funds and a partner to keep the flag carrier operational.

  • Zimbabwe

    European Union has released R270 million in emergency food aid as severe hunger continues.

Loading...

Credit ombud suspended as a ‘precaution’

Oct 08 2019 08:42

The Credit ombud, Nicky Lala-Mohan, has been placed under “pre-cautionary suspension”.

According to a statement from his office, he was suspended last week pending the outcome of an internal investigation.

No further information was provided.

The ombud’s office  has to resolve complaints where consumers and businesses are negatively impacted by credit bureau information or when a consumer has a dispute with a credit provider.

Lala-Mohan, who previously headed the Credit Ombud’s Council, was appointed in November 2015.

                                                                       Nicky Lala-Mohan

He held various positions within Standard Bank and he was with the Banking Association SA for 11 years.

Recently, credit ombud was apparently snubbed by the banks after a decision to refer all credit bureau related complaints involving banks to the Ombudsman for Banking Services from October 1st. In the past, these queries were adjudicated by the credit ombud.

Compiled by Helena Wasserman 

 

NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...