Business Report has the following report:
” The advent of the National Credit Act (NCA) has seen banks aggressively issue more credit, analysts say.
The law was introduced to curb reckless lending in the market and has had the opposite effect. And the legislation is expected to cost the banking industry in lost fees.

“We’ve “tried everything,” by which we mean we’ve tried a few things that everybody else has done as long as they didn’t involve doing anything differently from what we normally do.”
- Unknown

The following article was kindly supplied to us by Debtsource.
Experts are calling identity theft “an absolute epidemic” and law-enforcement authorities are stating that it has become the fastest growing crime in the USA. While accurate local statistics are not readily available the US Federal Trade Commission reported that in 2005 alone some 255 000 cases of identity theft were reported. The problem has taken on such proportions that President Bush established a special Identity Theft Task Force in May 2006, comprising 17 federal agencies and departments including the likes of …

Well 2007 is already into its stride. I trust and hope that you had a good Christmas and new year break (those that were luck enough to).
2007 will see the introduction of the practical bits of the National Credit Act in June as well the possible introduction of the Consumer Protection Bill . In addition the Reserve Bank will continue its efforts to curb consumer spending. Even in the commercial credit market the amounts of credit being advanced are in some cases exceeding any form of security that the debtors …