Competition Commission recommends Wesbank and Toyota Financial Services be fined for collusion

[Jan]

Wesbank and Toyota Financial Services facing fines for alleged car loan collusion

The Competition Commission has referred FirstRand Bank Limited (FirstRand), Wesbank, and Toyota Financial Services South Africa (TFS) to the Competition Tribunal for prosecution on allegations of dividing the market by allocating customers or suppliers.

This comes after it investigated an agreement between Wesbank and TFS, which the commission contends divided markets by allocating customers or suppliers for the provision of vehicle finance.

 

[Booysenc]

They did the same to me, I applied via Wesbank, nowhere else because I wanted to have all integrated with FNB, they referred me to Toyota because I'm buying from a dealership, was a bit pissed off because if I wanted to go to Toyota I would have applied there. Ah well so be it