Tiny Loans Limited
Tiny Loans Limited has been warned by the Commission for likely breaches of several of its obligations under the Credit Contracts and Consumer Finance Act 2003, being: prohibition on lending to repeat borrowers (sections 45F and 45G), unreasonable default fees (sections 45J and 41), and initial disclosure (s17).
Case Details
Parties
Tiny Loans Limited
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act 2003 17, 41, 45F, 45G, 45J
Industry
Financial and insurance services
Status
Closed
Outcome
Warning letter
Case Number
Date opened
30 August 2021
Date closed
20 February 2023
Contact person