Superloans Wellington Limited; Superloans Porirua Limited
Superloans Wellinton Limited and Superloans Porirua Limited (collectively Superloans) has been warned by the Commission for likely breaches of the Credit Contracts and Consumer Finance Act 2003. The likely breaches relate to Superloans’ obligations under section 9CA to keep records which demonstrate how it satisfied itself as to the affordability and suitability of its loans, and to provide such records to borrowers free of charge on request by a borrower, as well as to provide the records to the Commission, on request by the Commission, within the time frame specified by the Commission.
Case Details
Parties
Superloans Wellington Limited; Superloans Porirua Limited
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act 9CA(2), 9CA(3), 9CA(5), 9CA(7)
Industry
Financial and insurance services
Status
Closed
Outcome
Warning letter
Case Number
Date opened
09 February 2023
Date closed
18 October 2024
Contact person
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