Consumer credit media releases

July 2017

Fines reach nearly $900,000 in Commission mobile trader prosecutions

12 July 2017

Two mobile traders have been fined a total of more than $183,000 and been ordered to return nearly $71,000 in fees to their customers.

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June 2017

Commission issues credit fee guidelines

30 June 2017

The Commerce Commission has today released its Consumer Credit Fees Guidelines, to provide guidance for lenders in setting credit fees.

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Finance company fined $22,000 and returns $10,000 to borrowers

23 June 2017

Christchurch-based finance company Acute Finance Limited (Acute) has been fined $22,000 and says it has taken steps to return $10,000 to borrowers, after pleading guilty to four charges under the Credit Contracts and Consumer Finance Act (CCCF Act).

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Aunty and Herman return to raise awareness of consumer rights

19 June 2017

New Zealand’s sharpest legal advisor Aunty and her nephew Herman Faleafa have returned to raise awareness of consumer rights in the Commerce Commission’s animated series It’s All Good.

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May 2017

Cash to You Loans banned from lending

24 May 2017

Napier loan company Cash to You Loans Limited has been banned indefinitely from operating as a lender, after charging borrowers unreasonable fees and excess interest and failing to correctly disclose fees charged.

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April 2017

Commerce Commission wins appeal in Budget Loans case

18 April 2017

The Commerce Commission has won its appeal against a District Court decision to dismiss 19 charges against two finance companies.

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Guilty pleas in Commission’s 12th mobile trader prosecution

13 April 2017

Truck shop operator Budget Warehouse Limited (Budget Warehouse) has pleaded guilty to 18 charges relating to its customer credit contract documents.

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Tax refund season – what consumers and tax agents need to know

7 April 2017

With the end of the financial year upon us, consumers may find a tax agent at their door or on the phone.

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March 2017

Rapid Loans to refund over $1 million in unreasonable fees

7 March 2017

Internet-based lender Rapid Loans NZ Limited has agreed to compensate borrowers approximately $1.4 million following a Commerce Commission investigation into unreasonable fees.

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First jail sentence in Commerce Commission case

3 March 2017

Vikram Mehta, owner of mobile trader Flexi Buy Limited (Flexi Buy), has today been sentenced in the Auckland District Court to two years imprisonment after taking money from customers without intending to supply goods as promised.

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February 2017

Judge criticises mobile trader for targeting the vulnerable

22 February 2017

Mobile trader Bestdeals 4 You Limited (Bestdeals) has been fined $47,250 in the Auckland District Court for failing to disclose key consumer information about its credit contracts and layby sales agreements.

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Commission files charges against Auckland mobile trader, Appenture Marketing

8 February 2017

The Commerce Commission has filed 24 charges against Appenture Marketing Ltd for failing to provide consumers with key contract information and for making false and misleading representations to consumers about their rights.

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January 2017

Mobile trader pleads guilty to disclosure failures in contracts

25 January 2017

Mobile trader Best Buy Limited (Best Buy) has pled guilty to 16 charges relating to the operation of its door-to-door sales business in Auckland and smaller North Island towns.

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