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 41
Industry
Financial and insurance services
Status
Closed
Outcome
Settlement
Case Number
Date opened
09 October 2017
Date closed
03 July 2020
Contact person