We have accumulated extraordinary evidence that shows that South African banks are operating unlawfully.
The New Economic Rights Alliance is about to serve a High Court summons on all four major banks. We will do this jointly with any Member who wishes to participate.
We hereby invite you to stand with us and formally join this cause of action. This is not a class action yet, it is a certification that the banks are breaking the law.
Those people who join this action are likely to have pending legal action against them temporarily suspended.
Even if you have not defaulted on a loan, you will add significant weight to our case.
The grounds for the summons are outlined in the attached document, but they are primarily the following: a. The fractional reserve banking system (making money out of thin air) and the securitisation process (secretly gambling with our money behind our backs) are breaches of South African law, go against the Constitution and are contra bones mores (against the basic morals of society). b. Banks are supposed to have a trusted legal relationship with their customers, called a Fiduciary. This relationship has been breached, all in the name of rampant profiteering. c. The above has resulted in prejudice, and this will set the scene for a full blown class action lawsuit.
To join us, we ask that you please complete this online form here which provides us with the relevant information.
There is no risk to you, but you do need to become a fully paying NewERA Member (minimum R300).
Once we file the court documents, we will not be able to add new people to this particular case. It is very important that you join now.