The Financial Sector Conduct Authority has fined market research company, Viceroy and its partners an administrative fine of R50 million. This follows the release of a report entitled "A wolf in sheep's clothing," which claimed that Capitec Bank has acted irresponsibly in issuing new loans to customers unable to service their debts.
Viceroy claimed that Capitec was a reckless lender and that it had overstated its loan book.
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