Southern Cross Finance Limited
In a settlement with the Commerce Commission, Southern Cross Finance Limited has admitted charging unreasonable loan establishment fees and will refund just under $700,000 to 250 customers it overcharged between July 2006 and October 2009.
Case Details
Parties
Southern Cross Finance Limited
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act 2003 ss 41, 42
Industry
Financial and insurance services
Status
Closed
Outcome
Out-of-court settlement
Case number
Date opened
11 February 2010
Date closed
11 February 2010
Contact person