Banks 'throttling the economy'

Large commercial banks are throttling the economy while the housing market threatens to collapse and millions of consumers are in debt, debt counsellors Consumer Assist said on Tuesday.

"Reserve Bank Governor Tito Mboweni is among those starting to accuse banks of starting to throttle the economy as they hold on to credit and aggressively pursue the indebted," Consumer Assist said.

Source: Fin24.com