MPs back Bill forcing saccos to list loan defaulters

Lawmakers at Parliament Buildings. PHOTO | JEFF ANGOTE | NMG

Parliament has backed a Bill that will compel savings and credit co-operative societies (saccos) to share information with credit reference bureaus (CRBs) in what promises to expose hundreds of thousands of defaulters.

The Sacco Societies (Amendment) Bill sailed through the second reading in Parliament on Wednesday evening.

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