Multi-billion suit against SA banks over unlawful home foreclosures

PUBLISHED: Fri, 14 Feb 2020 16:37:19 GMT

The Lungelo Lethu Human Rights Foundation has filed a class action suit against major banks worth more than R60 billion and hold banks responsible for evictions of about 100 000 housing bond defaulters from their properties since the constitution came into effect in 1994. Joining CNBC Africa to discuss what this means for banks and what’s at stake if land grabs are sanctioned is Cas Coovadia, Managing Director of the Banking Association of South Africa.

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