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
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