Superloans Napier Limited and Superloans Porirua Limited

Superloans Napier and Superloans Porirua have been warned for likely breaching section 9C(1) of the CCCFA by providing high-cost credit agreements to borrowers on a regular and ongoing basis because they failed to exercise the care, diligence and skill of a responsible lender before entering into an agreement to provide credit (as required by s9C(2)(a)); and make reasonable inquiries before entering into an agreement with a borrower to be satisfied that the agreement would meet a borrower’s requirements and objectives (as required by 9C(3)(a)(i).