December 2007
West Auckland pawn broker ordered to repay loan customers
10 December 2007
Loan customers described by a Judge as some of the "more vulnerable and desperate members of society" are to get a partial refund from a pawn broker after a successful prosecution by the Commerce Commission.Relates to: Fair Trading, Consumer Credit
August 2007
Commission investigates south Auckland credit providers
16 August 2007
The Commerce Commission has warned six south Auckland credit providers, and will prosecute a seventh, for allegedly failing to provide important information to customers taking out personal loans. Adequate disclosure is required under the Credit Contracts and Consumer Finance Act (CCCF Act).Relates to: Consumer Credit
Commission warns truck 'shops' may be breaching credit law
10 August 2007
The Commerce Commission has warned four companies operating mobile shops in the North Island that they may be breaching the Credit Contracts and Consumer Finance Act (CCCF Act) by not disclosing important information to customers.Relates to: Consumer Credit
Loan company to refund over 2,000 customers
1 August 2007
In a settlement reached with the Commerce Commission, Gilrose Finance Limited will return over $50,000 to 2,303 customers affected by breaches of the Credit Contract and Consumer Finance Act.Relates to: Consumer Credit
Blenheim car dealer to refund customers over loans
1 August 2007
The Motor Centre admits it breached the Credit Contracts and Consumer Finance Act when it failed to tell customers about their rights and obligations, and charged fees for services it did not perform.Relates to: Consumer Credit
May 2007
$788,000 refunds over redundancy insurance for the unemployed
27 May 2007
In an out-of-Court settlement reached with the Commerce Commission, Auckland company Club Finance has agreed to refund $788,000 to borrowers who were required to insure their car loans against the risk of redundancy, despite being unemployed at the time they took out the loans.Relates to: Consumer Credit
$146,000 payout over Auckland car loans
25 May 2007
The partners of Auckland car finance business Dolbak Finance have been fined $100,000 over car loan contracts that did not properly disclose fees and charges.Relates to: Consumer Credit
Kiwibank pleads guilty over credit card fees
16 May 2007
Kiwibank has become the fifth major bank to plead guilty to breaching the Fair Trading Act by failing to properly disclose currency conversion fees paid by its MasterCard cardholders. Customers paid fees of 2.6% of the total transaction.Relates to: Fair Trading, Consumer Credit
February 2007
Car buyers refunded $49,000 by Ford's finance company
14 February 2007
Primus Financial Services, trading as Ford Credit, has refunded $49,000 to 391 customers as a result of a warning from the Commerce Commission.Relates to: Consumer Credit
