Category: First National Bank
Over 225 applicants, primarily from Gauteng’s poorer townships, have instituted a R60 billion claim for damages against some of South Africa’s biggest banks.
GroundUp reports that the case revolves around a number of unlawful repossessions by the banks over the past 23 years, with the R60 billion figure based on the average estimated loss of home equity value, multiplied by the roughly 100,000 homes repossessed since 1994.
Nedbank, Absa, FirstRand Bank and Standard Bank are cited as respondents in the case, as well as the National Credit Regulator, the Minister for Justice and Constitutional Development, the SA Human Rights Commission and the High Court Rules Board.
Auction Alliance paid off bank officials, says report – paying referral commissions to bank officials at Absa, Nedbank, RNB/FNB and Investec.
WHILE mandated to market and sell bulk properties on behalf of Absa, Auction Alliance allegedly acquired some of the residential units for itself without disclosing this to the bank.
Auction Alliance is also accused, in the Greyling forensic report that Business Day has seen, of paying referral commissions to bank officials at Absa, Nedbank, RNB/FNB and Investec.
The report is the product of a forensic probe carried out by Allan Greyling and his team at Accountants at Law (A@L) in 2012. It has been buried away from the public eye ever since.
Finally! In a dramatic result homeowners have received help.
We have assisted more than 3600 home owners from loosing their properties. Many clients lost their properties due to untaxed legal fees which have been debited to the bond account. This is not legal and we are the only company in South Africa who can re-calculate these illegal charges with interest and stop the auction. Our legal advisers has first hand experience in this field and with a 100% accurate driven software program can we assist you, the consumer to stop the auction.
We can also assist to rescind the judgment from your name.
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FNB Homeloans took legal action and a judgment against me in 2009 without me receiving the summons – I only found out when debt restructuring agencies started calling me. Recently there was a similar case where the constitutional court gave judgment against standardbank with cost.
How can I get the same judgement against FNB – I do not have thousands of rands to pay upfront for legal help?
Johannesburg – The North Gauteng High Court in Pretoria ruled in favour of First National Bank (FNB) after bond recalculator Emerald van Zyl made claims of racism against the bank, Business Day reported on Wednesday.
The court found the claim of racism was unfounded and that Van Zyl showed a malicious disregard for the facts and an overriding desire to continue his vendetta against FNB.
Van Zyl had claimed that Saambou Bank (later taken over by FNB) charged black people a higher interest rate than white people.
He alleged that FNB was a racist bank.
During his campaign against the bank, he involved the African National Congress Youth League, Parliament as well as the Human Rights Commission.
Van Zyl claimed to represent 400 claims ceded to him by people who entered into loan agreements with Saambou Bank.
He alleged that Saambou, and later FNB, overcharged them with interest in excess of what they were obliged to pay in terms of the relevant loan agreements.
Acting Judge Louis Vorster found that Saambou had not acted incorrectly nor unreasonably in making interest rate changes to its home-loan accounts.
As such there was no claim for any damages against FNB for former Saambou home-loan customers.
The judge agreed with a request by FNB for a punitive costs order against Van Zyl, who had waged a widespread campaign against the bank through the media.