July 2010
Budget Loans pleads guilty to misleading - $500,000 returned to consumers
26 July 2010
Budget Loans Limited has pleaded guilty to 34 charges of breaching the Fair Trading Act in the Auckland District Court today. The charges relate to misleading claims made by Budget Loans that it was entitled to recover certain interest and fees from its debtors, when as a matter of law it was not. Budget Loans have been fined $30,750.
Relates to: Fair Trading, Consumer Credit
Beware of credit card scam
23 July 2010
The Commerce Commission is urging New Zealanders not to fall for a scam in which people are being phoned and told they are eligible for a refund for overcharges on their credit card, but they have to pay the scammers money in order to receive the payment.
Relates to: Fair Trading
$100,000 penalties imposed in Waikato pathology services case
23 July 2010
The High Court in Auckland has imposed penalties on New Zealand Diagnostic Group and Pathology Associates Limited after they admitted being parties to an anti-competitive agreement concerning community pathology testing services in the Waikato area.
Relates to: Business Competition
Commerce Commission directs payment of $45 million to ANZ/ING investors
21 July 2010
The Commerce Commission has determined the payment method for distribution of the $45 million settlement fund agreed with ANZ National Bank Limited (ANZ) and ING (NZ) Limited (ING) in respect of the ING Diversified Yield Fund (DYF) and ING Regular Income Fund (RIF).
Relates to: Fair Trading, Consumer Credit
Commerce Commission urges caution again over holiday vouchers
19 July 2010
Consumers should exercise caution when approached by telemarketers selling vouchers for discounted or free holidays, hotels and flights, the Commerce Commission warned today.
Relates to: Fair Trading
Telecom settles over wholesale loyalty offer - $1.6 million to be paid in compensation
9 July 2010
The Commerce Commission has reached a $1.6 million settlement with Telecom Corporation of New Zealand Limited. The settlement follows a Commission investigation launched after receiving complaints from the telecommunications industry alleging that Telecom Wholesale's 'loyalty offers' breached Telecom's Separation Undertakings.
Relates to: Telecommunications
