Moola.co.nz Limited
High cost short term lender Moola.co.nz Limited has agreed a settlement with the Commerce Commission where it is required to credit or refund approximately $2.8 million to current and former borrowers, after acknowledging the Commission’s view that it charged unreasonable credit and default fees.
Case Details
Parties
Moola.co.nz Limited
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act 2003 s 41
Industry
Financial and insurance services
Status
Closed
Outcome
Out-of-court settlement
Case number
Date opened
09 October 2017
Date closed
03 July 2020
Contact person