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 s 41
Industry
Financial and insurance services
Status
Closed
Outcome
Out-of-court settlement
Case number
Date opened
13 January 2017
Date closed
13 January 2017
Contact person