Investment Bureau Limited
Investment Bureau Limited has been warned by the Commerce Commission for likely breaches of the Credit Contracts and Consumer Finance Act 2003 in relation to responsible lending (section 9C), disclosure obligations (sections 17 and 24), and enforcing its right in relation to costs of borrowing while not being registered as a Financial Services Provider (section 99B). Additionally, Investment Bureau Limited has likely breached section 13 of the Fair Trading Act 1986 by misrepresenting its right to recover money to which it was not entitled.
Case Details
Parties
Investment Bureau Limited
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act 2003 9C, 17, 24, 99B, Fair Trading Act 1986 13
Industry
Financial and insurance services
Status
Closed
Outcome
Warning letter
Case Number
Date opened
20 June 2022
Date closed
23 November 2023
Contact person