Consumer credit media releases

June 2018

Christchurch vehicle financier warned over concerns about agent’s lending conduct

11 June 2018

The Commission has issued a warning to Dealer Finance Limited (DFL), a Christchurch-based motor vehicle finance lender, after an investigation into its compliance with obligations under the lender responsibility principles under the Credit Contracts and Consumer Finance Act 2003 (CCCF Act).

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Commission alleges irresponsible lending by payday lender Ferratum

1 June 2018

The Commerce Commission has commenced High Court proceedings against payday lender Ferratum New Zealand Limited (Ferratum) under the Credit Contracts and Consumer Finance Act 2003 (CCCFA) over alleged breaches of the lender responsibility principles.

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May 2018

Lender website review highlights issues consumers face when borrowing money

31 May 2018

The Commerce Commission has today released the findings of its review of 215 selected lenders’ websites for compliance with disclosure rules.

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January 2018

Debt collection group to credit customers overcharged after goods repossessed

16 January 2018

Debt collection group Receivables Management has agreed to credit more than $1.4 million to around 1,700 customers who were wrongly charged interest, costs and fees on loans after their goods had been repossessed and sold.

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South Island veterinary business warned over likely price fixing with competitor

8 January 2018

The Commerce Commission has warned VetLife Limited (VetLife) that it is likely to have breached the Commerce Act by price fixing with one of its competitors.

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