Broadlands Finance Limited
In the Commission's view Broadlands breached s13(i) of the Fair Trading Act by charging interest and fees on loans after repossessing and selling secured consumer goods. Broadlands has not admitted liability but has agreed to refund approximately $3.3 million in interest and fees to affected debtors.
Case Details
Parties
Broadlands Finance Limited
Category
Consumer
Sub-category
Act/Section
Fair Trading Act 1986 13(i)
Industry
Financial and insurance services
Status
Closed
Outcome
Court enforceable undertakings, Settlement
Case Number
Date opened
22 September 2014
Date closed
22 September 2014
Contact person