The Banking Association responded to the minister’s allegations that banks discriminate when deciding on home loans.
Banking Association hits back at Human Settlements minister after statement on discrimination in home loans
The Banking Association responded, saying that every bank has its own business and risk criteria for extending home loans and other forms of credit, but ‘race is certainly not one of them’.“Allegations of unfair discrimination by banks remain unfounded and are frankly irresponsible. Basa and its members are opposed to unfair discrimination of any kind. To date, no Basa member bank has been found guilty in a court of law of systemic or institutionalised racism,” Basa says in a statement.
“It is the business of banks to lend using financial products and services, like home loans. As such, they are incentivised to lend as much as possible. Banks do not want to turn away customers.” “However, it remains primarily the responsibility of government to create an enabling operating environment, so that companies can grow and create jobs, allowing South Africans to meet the affordability requirements set out in law.”Basa has been working with department
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