Rapid Loans NZ Limited
Rapid Loans has agreed to compensate borrowers approximately $1.4m after they charged unreasonable establishment, monthly administration or default fees on more than 6,000 loans during the period 1 July 2013 to 30 June 2015.
Case Details
Parties
Rapid Loans 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
13 January 2017
Date closed
13 January 2017
Contact person